Millstone Evans Group LLC Buys Shares of 1,650 Crown Castle Inc. (NYSE:CCI)

Millstone Evans Group LLC purchased a new stake in Crown Castle Inc. (NYSE:CCI) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,650 shares of the real estate investment trust’s stock, valued at approximately $150,000.

Other hedge funds also recently made changes to their positions in the company. Twin Tree Management LP purchased a new position in shares of Crown Castle in the fourth quarter valued at $25,000. FNY Investment Advisers LLC grew its position in shares of Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 300 shares in the last quarter. Roxbury Financial LLC purchased a new position in shares of Crown Castle in the fourth quarter valued at $37,000. Marshall Investment Management LLC purchased a new position in shares of Crown Castle in the fourth quarter valued at $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Crown Castle in the fourth quarter valued at $53,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Trading Up 1.9 %

Shares of CCI stock opened at $106.61 on Friday. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. 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 business has a 50-day moving average price of $92.77 and a two-hundred day moving average price of $101.13. The firm has a market cap of $46.42 billion, a P/E ratio of 37.81 and a beta of 0.89.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

Analyst Ratings Changes

CCI has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Bank of America initiated coverage on Crown Castle in a research report on Thursday. They set a “neutral” rating and a $110.00 target price for the company. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from $128.00 to $122.00 in a research report on Friday, March 14th. Citigroup boosted their target price on Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Finally, Barclays boosted their target price on Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, March 17th. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.