Prestige Wealth Management Group LLC Buys 419 Shares of Crown Castle Inc. (NYSE:CCI)

Prestige Wealth Management Group LLC raised its position in Crown Castle Inc. (NYSE:CCI) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,248 shares of the real estate investment trust’s stock after acquiring an additional 419 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Crown Castle were worth $567,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CCI. Twin Tree Management LP bought a new stake in shares of Crown Castle during the 4th quarter valued at $25,000. FNY Investment Advisers LLC raised its stake in Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 300 shares during the last quarter. Roxbury Financial LLC bought a new position in Crown Castle in the fourth quarter valued at about $37,000. Marshall Investment Management LLC bought a new position in shares of Crown Castle in the 4th quarter worth approximately $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in Crown Castle during the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

NYSE:CCI opened at $104.42 on Tuesday. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The company has a market cap of $45.47 billion, a P/E ratio of 37.03 and a beta of 0.89. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm’s 50 day moving average is $93.15 and its two-hundred day moving average is $100.97.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s payout ratio is -69.71%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Raymond James raised shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the company from $128.00 to $122.00 in a report on Friday, March 14th. JPMorgan Chase & Co. dropped their price target on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. KeyCorp raised shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price target for the company in a research note on Friday, March 14th. Finally, Citigroup upped their price objective on shares of Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.00.

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.