Access Financial Services Inc. Lowers Stock Position in Crown Castle Inc. (NYSE:CCI)

Access Financial Services Inc. decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 15.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,965 shares of the real estate investment trust’s stock after selling 2,262 shares during the quarter. Access Financial Services Inc.’s holdings in Crown Castle were worth $1,378,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FLC Capital Advisors boosted its stake in shares of Crown Castle by 15.0% in the fourth quarter. FLC Capital Advisors now owns 4,734 shares of the real estate investment trust’s stock valued at $545,000 after purchasing an additional 619 shares during the period. IFG Advisory LLC purchased a new position in shares of Crown Castle in the fourth quarter valued at approximately $259,000. Columbia Trust Co 01012016 boosted its stake in shares of Crown Castle by 17.3% in the fourth quarter. Columbia Trust Co 01012016 now owns 4,128 shares of the real estate investment trust’s stock valued at $476,000 after purchasing an additional 609 shares during the period. Tectonic Advisors LLC boosted its stake in shares of Crown Castle by 17.3% in the fourth quarter. Tectonic Advisors LLC now owns 4,698 shares of the real estate investment trust’s stock valued at $541,000 after purchasing an additional 694 shares during the period. Finally, Pinnacle Wealth Management Group Inc. boosted its stake in shares of Crown Castle by 11.3% in the fourth quarter. Pinnacle Wealth Management Group Inc. now owns 4,664 shares of the real estate investment trust’s stock valued at $537,000 after purchasing an additional 475 shares during the period. 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 $105.83 on Friday. The firm’s fifty day simple moving average is $107.87 and its 200-day simple moving average is $104.62. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $136.29. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $45.99 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 2.80 and a beta of 0.74.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $1.565 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 5.92%. Crown Castle’s dividend payout ratio (DPR) is 180.92%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CCI shares. HSBC started coverage on shares of Crown Castle in a research note on Thursday, December 14th. They issued a “hold” rating and a $110.00 price target for the company. Royal Bank of Canada lifted their price target on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 21st. BMO Capital Markets upgraded shares of Crown Castle from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $107.00 to $110.00 in a research note on Friday, January 19th. Finally, Wells Fargo & Company raised shares of Crown Castle from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $90.00 to $115.00 in a report on Tuesday, December 5th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $121.33.

Crown Castle Company 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.