Orographic Financial Advisors LLC Takes $1.51 Million Position in Crown Castle Inc. $CCI

Orographic Financial Advisors LLC acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,573 shares of the real estate investment trust’s stock, valued at approximately $1,510,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wiser Advisor Group LLC bought a new stake in shares of Crown Castle in the 3rd quarter valued at $29,000. Triumph Capital Management acquired a new stake in shares of Crown Castle during the third quarter worth $31,000. Hilton Head Capital Partners LLC raised its stake in Crown Castle by 55.6% during the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 134 shares during the last quarter. Global Assets Advisory LLC acquired a new position in Crown Castle in the first quarter valued at $32,000. Finally, Salomon & Ludwin LLC lifted its holdings in Crown Castle by 128.7% in the fourth quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 215 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Down 3.2%

Shares of NYSE CCI opened at $76.55 on Friday. The firm has a market cap of $33.41 billion, a PE ratio of 38.86, a P/E/G ratio of 0.42 and a beta of 0.95. Crown Castle Inc. has a 12-month low of $73.52 and a 12-month high of $112.75. The company’s fifty day simple moving average is $83.15 and its 200 day simple moving average is $85.47.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $1.0625 per share. The ex-dividend date was Monday, June 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.6%. Crown Castle’s dividend payout ratio is currently 215.74%.

Analyst Ratings Changes

A number of analysts have weighed in on CCI shares. BMO Capital Markets decreased their price target on Crown Castle from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 20th. Citizens Jmp dropped their price objective on Crown Castle from $125.00 to $120.00 and set a “market outperform” rating on the stock in a research note on Friday, July 24th. Scotiabank dropped their price objective on Crown Castle from $94.00 to $91.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 7th. The Goldman Sachs Group started coverage on Crown Castle in a research report on Friday, June 26th. They set a “neutral” rating and a $95.00 target price on the stock. Finally, Barclays raised their target price on Crown Castle from $91.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and an average target price of $95.13.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.