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

Key Points

• Orographic Financial Advisors initiated a Crown Castle position worth approximately $1.51 million, purchasing 18,573 shares. Institutional investors and hedge funds collectively own 90.77% of CCI.
• Crown Castle shares opened at $76.55, near their one-year low of $73.52 and below both their 50-day and 200-day moving averages. The stock offers a 5.6% dividend yield, although its payout ratio is elevated at 215.74%.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $95.13, implying potential upside from current levels; recent ratings range from “Hold” to “Strong Buy.”

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

Several other large investors have also bought and sold shares of CCI. Vanguard Group Inc. lifted its holdings in shares of Crown Castle by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 69,769,393 shares of the real estate investment trust's stock worth $6,200,406,000 after acquiring an additional 386,733 shares during the last quarter. Cohen & Steers Inc. boosted its stake in shares of Crown Castle by 11.0% in the 4th quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust's stock valued at $3,536,214,000 after purchasing an additional 3,953,685 shares in the last quarter. State Street Corp grew its holdings in shares of Crown Castle by 2.4% during the 4th quarter. State Street Corp now owns 22,239,559 shares of the real estate investment trust's stock valued at $1,976,430,000 after purchasing an additional 511,018 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Crown Castle by 2.8% during the 4th quarter. Wellington Management Group LLP now owns 13,986,852 shares of the real estate investment trust's stock valued at $1,243,012,000 after purchasing an additional 380,419 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in Crown Castle by 15.7% during the 1st quarter. Lazard Asset Management LLC now owns 13,463,182 shares of the real estate investment trust's stock worth $1,094,691,000 after purchasing an additional 1,828,065 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

NYSE:CCI opened at $76.55 on Friday. The firm's 50 day simple moving average is $83.15 and its 200 day simple moving average is $85.47. Crown Castle Inc. has a one year low of $73.52 and a one year high of $112.75. The company 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.6%. Crown Castle's dividend payout ratio (DPR) is presently 215.74%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup restated a "market outperform" rating on shares of Crown Castle in a research report on Friday, July 24th. Truist Financial lowered their price target on shares of Crown Castle from $95.00 to $87.00 and set a "hold" rating for the company in a report on Tuesday. BMO Capital Markets dropped their price target on Crown Castle from $100.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, July 20th. KeyCorp raised their price objective on Crown Castle from $98.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, April 23rd. Finally, Raymond James Financial boosted their price objective on Crown Castle from $102.00 to $108.00 and gave the stock a "strong-buy" rating in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.13.

Crown Castle Company Profile

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.

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