Independent Advisor Alliance Has $1.80 Million Position in Crown Castle Inc. $CCI

Independent Advisor Alliance boosted its position in Crown Castle Inc. (NYSE:CCI) by 110.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,665 shares of the real estate investment trust’s stock after purchasing an additional 9,786 shares during the quarter. Independent Advisor Alliance’s holdings in Crown Castle were worth $1,801,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Winnow Wealth LLC bought a new stake in shares of Crown Castle in the second quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC bought a new position in Crown Castle during the second quarter worth about $27,000. NewSquare Capital LLC raised its stake in Crown Castle by 74.5% in the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares in the last quarter. LRI Investments LLC bought a new stake in Crown Castle in the 3rd quarter valued at about $29,000. Finally, Creative Financial Designs Inc. ADV grew its position in shares of Crown Castle by 47.8% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 98 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CCI. Jefferies Financial Group dropped their price target on shares of Crown Castle from $102.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, December 16th. Citigroup lowered their price objective on Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. Royal Bank Of Canada cut their target price on Crown Castle from $112.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, January 12th. Raymond James Financial decreased their price target on Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crown Castle in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $106.75.

Crown Castle Stock Performance

Shares of CCI opened at $85.02 on Tuesday. Crown Castle Inc. has a 52-week low of $83.21 and a 52-week high of $115.76. The business’s fifty day moving average is $88.11 and its 200-day moving average is $94.42. The firm has a market cap of $37.02 billion, a price-to-earnings ratio of -8.00, a PEG ratio of 0.57 and a beta of 0.96.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were paid a $1.0625 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $4.25 annualized dividend and a yield of 5.0%. Crown Castle’s dividend payout ratio (DPR) is -39.98%.

Crown Castle Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.