SVB Wealth LLC Takes $268,000 Position in Crown Castle Inc. (NYSE:CCI)

SVB Wealth LLC purchased a new position in Crown Castle Inc. (NYSE:CCI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,948 shares of the real estate investment trust’s stock, valued at approximately $268,000.

Other institutional investors also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC purchased a new position in Crown Castle in the third quarter worth approximately $25,000. Harbor Capital Advisors Inc. purchased a new position in Crown Castle in the third quarter worth approximately $47,000. FNY Investment Advisers LLC lifted its stake in Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 300 shares during the last quarter. Roxbury Financial LLC purchased a new position in Crown Castle in the fourth quarter worth approximately $37,000. Finally, Investors Research Corp lifted its stake in Crown Castle by 57.2% in the third 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 during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $94.79 on Thursday. The firm’s fifty day simple moving average is $90.00 and its 200-day simple moving average is $102.07. The stock has a market capitalization of $41.20 billion, a price-to-earnings ratio of 33.61 and a beta of 0.88. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.60%. Crown Castle’s dividend payout ratio is currently 221.99%.

Wall Street Analyst Weigh In

CCI has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their price target 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. Wells Fargo & Company cut their price objective on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $117.00 to $104.00 in a report on Monday, January 13th. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and cut their price objective for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $108.75.

Crown Castle Profile

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.