Ellsworth Advisors LLC Acquires 302 Shares of Crown Castle Inc. (NYSE:CCI)

Ellsworth Advisors LLC boosted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,165 shares of the real estate investment trust’s stock after acquiring an additional 302 shares during the quarter. Ellsworth Advisors LLC’s holdings in Crown Castle were worth $560,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cascade Investment Group Inc. raised its position in Crown Castle by 18.3% during the fourth quarter. Cascade Investment Group Inc. now owns 7,202 shares of the real estate investment trust’s stock valued at $654,000 after acquiring an additional 1,115 shares in the last quarter. Grove Bank & Trust grew its holdings in Crown Castle by 8.4% during the fourth quarter. Grove Bank & Trust now owns 1,903 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 147 shares during the last quarter. Trust Co. of Vermont grew its holdings in Crown Castle by 26.2% during the fourth quarter. Trust Co. of Vermont now owns 1,555 shares of the real estate investment trust’s stock valued at $141,000 after purchasing an additional 323 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in Crown Castle by 2.8% during the fourth quarter. Arkadios Wealth Advisors now owns 12,446 shares of the real estate investment trust’s stock valued at $1,130,000 after purchasing an additional 338 shares during the last quarter. Finally, Brooklyn Investment Group grew its holdings in Crown Castle by 15.9% during the fourth quarter. Brooklyn Investment Group now owns 4,497 shares of the real estate investment trust’s stock valued at $408,000 after purchasing an additional 617 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CCI shares. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. TD Cowen lowered their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. UBS Group raised their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada raised their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and an average price target of $113.00.

Crown Castle Stock Up 0.4 %

Shares of NYSE CCI opened at $91.03 on Tuesday. The stock has a market cap of $39.56 billion, a PE ratio of 32.28 and a beta of 0.87. The business has a fifty day moving average of $96.66 and a two-hundred day moving average of $105.67. 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.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.88%. Crown Castle’s payout ratio is presently 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.