Independent Advisor Alliance Makes New Investment in Crown Castle Inc. (NYSE:CCI)

Independent Advisor Alliance bought a new stake in Crown Castle Inc. (NYSE:CCI - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 4,359 shares of the real estate investment trust's stock, valued at approximately $396,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Crown Castle by 3.7% in the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust's stock valued at $2,476,470,000 after acquiring an additional 747,390 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust's stock valued at $2,079,417,000 after acquiring an additional 3,371,186 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Crown Castle by 1.3% in the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust's stock valued at $1,434,229,000 after acquiring an additional 151,990 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Crown Castle by 2.6% in the fourth quarter. Fisher Asset Management LLC now owns 5,218,431 shares of the real estate investment trust's stock valued at $473,625,000 after acquiring an additional 130,414 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Crown Castle by 7.2% in the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust's stock valued at $613,900,000 after acquiring an additional 348,296 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

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Crown Castle Stock Up 1.9 %

Shares of NYSE:CCI traded up $1.99 during mid-day trading on Tuesday, hitting $104.90. 5,314,156 shares of the company traded hands, compared to its average volume of 2,596,103. The firm has a market cap of $45.59 billion, a P/E ratio of 37.20 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The firm's 50 day simple moving average is $91.29 and its 200 day simple moving average is $101.26.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 annualized dividend and a yield of 5.97%. Crown Castle's dividend payout ratio is presently -69.71%.

Analysts Set New Price Targets

Several analysts have recently weighed in on CCI shares. Wells Fargo & Company raised shares of Crown Castle from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $85.00 to $105.00 in a report on Monday. Citigroup raised their price objective on shares of Crown Castle from $106.00 to $108.00 and gave the company a "buy" rating in a research note on Friday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Crown Castle from $116.00 to $96.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group cut shares of Crown Castle from a "buy" rating to a "hold" rating and reduced their price objective for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, Citizens Jmp upgraded shares of Crown Castle to a "strong-buy" rating in a research note on Monday, January 27th. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Crown Castle has a consensus rating of "Moderate Buy" and a consensus price target of $110.29.

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.