Crown Castle Inc. (NYSE:CCI) Stake Boosted by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. raised its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 11.0% in the 4th quarter, Holdings Channel reports. The firm owned 2,302 shares of the real estate investment trust’s stock after purchasing an additional 229 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Crown Castle were worth $209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Pinnacle Bancorp Inc. boosted its stake in Crown Castle by 13.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 90 shares during the period. True North Advisors LLC boosted its position in shares of Crown Castle by 4.2% during the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after buying an additional 95 shares during the period. Malaga Cove Capital LLC grew its holdings in Crown Castle by 1.8% in the 3rd quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock worth $658,000 after buying an additional 100 shares in the last quarter. Tsfg LLC increased its position in Crown Castle by 27.5% in the 3rd quarter. Tsfg LLC now owns 542 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 117 shares during the period. Finally, Bleakley Financial Group LLC raised its stake in Crown Castle by 1.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,554 shares of the real estate investment trust’s stock valued at $777,000 after acquiring an additional 117 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JMP Securities initiated coverage on shares of Crown Castle in a research note on Monday. They set an “outperform” rating and a $115.00 price objective on the stock. TD Cowen decreased their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. UBS Group boosted their target price on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company lowered their price target on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $110.13.

Crown Castle Stock Performance

CCI stock opened at $88.02 on Thursday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market cap of $38.25 billion, a P/E ratio of 31.21 and a beta of 0.87. The firm has a 50 day simple moving average of $94.75 and a 200 day simple moving average of $105.24.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $1.565 dividend. The ex-dividend date was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 7.11%. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

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.