Thrivent Financial for Lutherans Boosts Stock Holdings in Crown Castle Inc. $CCI

Thrivent Financial for Lutherans increased its position in shares of Crown Castle Inc. (NYSE:CCI) by 32.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,467,179 shares of the real estate investment trust’s stock after buying an additional 359,097 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Crown Castle were worth $141,568,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB grew its position in shares of Crown Castle by 0.9% during the 2nd quarter. Wilmington Savings Fund Society FSB now owns 10,274 shares of the real estate investment trust’s stock valued at $1,055,000 after acquiring an additional 93 shares during the period. Creative Financial Designs Inc. ADV boosted its position in Crown Castle by 47.8% during the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 98 shares in the last quarter. Whittier Trust Co. grew its holdings in Crown Castle by 5.6% in the second quarter. Whittier Trust Co. now owns 2,046 shares of the real estate investment trust’s stock valued at $210,000 after purchasing an additional 109 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Crown Castle by 24.0% in the third quarter. Harbor Capital Advisors Inc. now owns 599 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 116 shares in the last quarter. Finally, NewSquare Capital LLC raised its stake in shares of Crown Castle by 74.5% during the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the topic of a number of research analyst reports. UBS Group dropped their price target on shares of Crown Castle from $127.00 to $116.00 and set a “buy” rating on the stock in a research note on Tuesday, January 20th. Raymond James Financial dropped their target price on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 23rd. New Street Research cut shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crown Castle in a research note on Monday, December 29th. Finally, KeyCorp lowered their price objective on Crown Castle from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $106.75.

Crown Castle Trading Down 0.1%

CCI opened at $86.82 on Friday. The firm has a market capitalization of $37.81 billion, a PE ratio of -8.17, a PEG ratio of 0.57 and a beta of 0.96. Crown Castle Inc. has a twelve month low of $83.21 and a twelve month high of $115.76. The firm’s 50-day moving average price is $88.19 and its 200 day moving average price is $94.62.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Monday, December 15th. Crown Castle’s payout ratio is currently -39.98%.

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.