Thrive Wealth Management LLC Has $217,000 Stake in Crown Castle Inc. (NYSE:CCI)

Thrive Wealth Management LLC lowered its stake in Crown Castle Inc. (NYSE:CCI) by 43.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,388 shares of the real estate investment trust’s stock after selling 1,864 shares during the period. Thrive Wealth Management LLC’s holdings in Crown Castle were worth $217,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Summit Trail Advisors LLC lifted its stake in shares of Crown Castle by 16.7% during the second quarter. Summit Trail Advisors LLC now owns 4,916 shares of the real estate investment trust’s stock valued at $480,000 after acquiring an additional 704 shares during the period. Profund Advisors LLC lifted its position in Crown Castle by 2.9% during the 2nd quarter. Profund Advisors LLC now owns 6,729 shares of the real estate investment trust’s stock valued at $657,000 after purchasing an additional 188 shares during the period. Frank Rimerman Advisors LLC boosted its stake in shares of Crown Castle by 55,756.3% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 8,937 shares of the real estate investment trust’s stock valued at $873,000 after purchasing an additional 8,921 shares during the last quarter. Gabelli Funds LLC grew its position in shares of Crown Castle by 1.1% during the 2nd quarter. Gabelli Funds LLC now owns 46,805 shares of the real estate investment trust’s stock worth $4,573,000 after buying an additional 500 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Crown Castle by 31.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,251 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 301 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

CCI stock opened at $91.03 on Tuesday. The stock has a 50-day moving average price of $96.66 and a two-hundred day moving average price of $105.67. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The stock has a market cap of $39.56 billion, a PE ratio of 32.28 and a beta of 0.87. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CCI. UBS Group lifted their target price on shares of 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 downgraded Crown Castle from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $105.00 to $100.00 in a report on Tuesday, December 10th. Royal Bank of Canada raised their target price on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. TD Cowen decreased their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Finally, Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $117.00 to $104.00 in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $113.00.

About Crown Castle

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.