United Asset Strategies Inc. Boosts Stock Holdings in Crown Castle Inc. (NYSE:CCI)

United Asset Strategies Inc. grew its holdings in Crown Castle Inc. (NYSE:CCI) by 19.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,986 shares of the real estate investment trust’s stock after purchasing an additional 815 shares during the quarter. United Asset Strategies Inc.’s holdings in Crown Castle were worth $574,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CCI. Riverview Trust Co raised its stake in shares of Crown Castle by 108.5% in the 3rd quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 140 shares during the period. Almanack Investment Partners LLC. purchased a new stake in Crown Castle during the 3rd quarter worth $28,000. PCA Investment Advisory Services Inc. purchased a new stake in Crown Castle during the 2nd quarter worth $29,000. Operose Advisors LLC purchased a new stake in Crown Castle during the 3rd quarter worth $30,000. Finally, Valley National Advisers Inc. increased its stake in Crown Castle by 51.1% during the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 97 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the topic of several analyst reports. 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 raised 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. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $118.93.

Crown Castle Trading Down 1.0 %

Shares of NYSE:CCI opened at $93.03 on Thursday. The company has a market cap of $40.42 billion, a PE ratio of 26.89, a P/E/G ratio of 2.50 and a beta of 0.73. The company’s 50-day moving average price is $105.41 and its 200 day moving average price is $105.15. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $134.09. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $1.565 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.73%. Crown Castle’s dividend payout ratio (DPR) is 180.92%.

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.