IFG Advisory LLC has made a significant investment in Crown Castle Inc. (NYSE:CCI), purchasing 2,252 shares valued at approximately $259,000. This move was revealed in the company’s most recent Form 13F filing with the SEC. The investment by IFG Advisory LLC indicates a growing interest in the real estate investment trust.
Notably, other hedge funds have also shown activity related to Crown Castle Inc. Riverview Trust Co increased its stake by 108.5% during the third quarter, while Union Savings Bank and several other entities made new stakes in the company during the second quarter. Overall, hedge funds and institutional investors now own 90.77% of the company’s stock.
As of Friday, Crown Castle Inc.’s stock opened at $105.83, with a 50-day moving average of $107.78 and a two-hundred day moving average of $104.68. The company has a market cap of $45.99 billion and a P/E ratio of 30.59. With a current ratio of 0.40 and a quick ratio of 0.40, the company’s financial position is under scrutiny.
Crown Castle Inc. recently announced a quarterly dividend, with investors receiving $1.565 per share. The ex-dividend date was Thursday, March 14th, and the dividend was paid on Thursday, March 28th. This represents a $6.26 annualized dividend and a dividend yield of 5.92%. The company’s dividend payout ratio currently stands at 180.92%.
Various equities research analysts have recently provided insights into Crown Castle Inc.’s performance. Wells Fargo & Company upgraded the stock from an ‘underweight’ rating to an ‘equal weight’ rating, while HSBC initiated coverage with a ‘hold’ rating and a target price of $110.00. These analyst actions reflect the ongoing assessments of Crown Castle Inc.’s position in the market.
