Sonora Investment Management Group LLC Purchases New Holdings in Crown Castle Inc. (NYSE:CCI)

Sonora Investment Management Group LLC purchased a new stake in Crown Castle Inc. (NYSE:CCI) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,342 shares of the real estate investment trust’s stock, valued at approximately $485,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in Crown Castle by 29.4% during the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after purchasing an additional 282,821 shares during the period. Van ECK Associates Corp grew its holdings in shares of Crown Castle by 24.7% in the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after acquiring an additional 31,319 shares during the period. Oak Thistle LLC acquired a new stake in shares of Crown Castle in the 4th quarter worth approximately $1,231,000. Avanza Fonder AB acquired a new stake in shares of Crown Castle in the 4th quarter worth approximately $3,083,000. Finally, Fisher Asset Management LLC grew its holdings in shares of Crown Castle by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after acquiring an additional 203,442 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Up 0.2 %

Shares of NYSE CCI opened at $89.25 on Friday. The stock has a fifty day moving average price of $94.11 and a 200 day moving average price of $105.01. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a market cap of $38.79 billion, a P/E ratio of 31.65 and a beta of 0.87. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 7.01%. Crown Castle’s dividend payout ratio is presently 221.99%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CCI. Moffett Nathanson lowered their price target on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. UBS Group upped their target price on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Scotiabank reduced their price target on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company reduced their price target on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $110.13.

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.