Pinnacle Wealth Management Group Inc. Has $537,000 Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Pinnacle Wealth Management Group Inc. boosted its position in Crown Castle Inc. (NYSE:CCI) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,664 shares of the real estate investment trust’s stock after acquiring an additional 475 shares during the period. Pinnacle Wealth Management Group Inc.’s holdings in Crown Castle were worth $537,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Crown Castle by 0.8% during the second quarter. BlackRock Inc. now owns 31,643,321 shares of the real estate investment trust’s stock worth $3,605,440,000 after buying an additional 258,811 shares during the last quarter. State Street Corp boosted its holdings in Crown Castle by 1.4% during the second quarter. State Street Corp now owns 20,907,232 shares of the real estate investment trust’s stock worth $2,382,170,000 after buying an additional 279,702 shares during the last quarter. Morgan Stanley boosted its holdings in Crown Castle by 8.9% during the third quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock worth $1,203,648,000 after buying an additional 1,064,382 shares during the last quarter. FMR LLC boosted its holdings in Crown Castle by 14.3% during the third quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock worth $1,098,526,000 after buying an additional 1,496,330 shares during the last quarter. Finally, Cohen & Steers Inc. boosted its holdings in Crown Castle by 27.6% during the second quarter. Cohen & Steers Inc. now owns 11,076,246 shares of the real estate investment trust’s stock worth $1,262,045,000 after buying an additional 2,398,791 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Crown Castle stock opened at $101.93 on Wednesday. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $136.29. The business has a 50-day simple moving average of $108.10 and a 200 day simple moving average of $104.60. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46. The stock has a market cap of $44.29 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 2.75 and a beta of 0.74.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 15th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.14%. The ex-dividend date is Thursday, March 14th. Crown Castle’s payout ratio is 180.92%.

Analyst Ratings Changes

A number of research firms have recently commented on CCI. BMO Capital Markets raised Crown Castle from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $107.00 to $110.00 in a research report on Friday, January 19th. HSBC started coverage on Crown Castle in a research report on Thursday, December 14th. They issued a “hold” rating and a $110.00 target price on the stock. Royal Bank of Canada lifted their target price on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. Finally, Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $90.00 to $115.00 in a research report on Tuesday, December 5th. Nine equities research analysts have rated the stock with a hold rating and six have given 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.