Independent Advisor Alliance Purchases Shares of 4,359 Crown Castle Inc. (NYSE:CCI)

Independent Advisor Alliance purchased a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,359 shares of the real estate investment trust's stock, valued at approximately $396,000.

A number of other institutional investors also recently bought and sold shares of the business. FNY Investment Advisers LLC increased its position in shares of Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 300 shares in the last quarter. Roxbury Financial LLC purchased a new stake in shares of Crown Castle during the 4th quarter worth approximately $37,000. Investors Research Corp boosted its stake in shares of Crown Castle by 57.2% during the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 154 shares in the last quarter. Marshall Investment Management LLC acquired a new stake in Crown Castle during the 4th quarter valued at $50,000. Finally, Bank of Jackson Hole Trust acquired a new stake in Crown Castle during the 4th quarter valued at $53,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CCI. Jefferies Financial Group cut Crown Castle from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Citigroup lifted their price target on Crown Castle from $106.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Wells Fargo & Company upgraded Crown Castle from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $85.00 to $105.00 in a research note on Monday. KeyCorp upgraded Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 target price for the company in a research note on Friday, March 14th. Finally, Moffett Nathanson dropped their price target on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $110.29.

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Crown Castle Price Performance

NYSE:CCI traded down $0.02 during mid-day trading on Wednesday, reaching $104.92. The stock had a trading volume of 1,494,699 shares, compared to its average volume of 2,591,330. The stock has a 50-day simple moving average of $91.64 and a two-hundred day simple moving average of $101.21. The stock has a market capitalization of $45.60 billion, a PE ratio of 37.20 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.97%. Crown Castle's dividend payout ratio (DPR) is presently -69.71%.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them.