Thrivent Financial for Lutherans Buys 359,097 Shares of Crown Castle Inc. $CCI

Thrivent Financial for Lutherans grew its stake in Crown Castle Inc. (NYSE:CCI) by 32.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,467,179 shares of the real estate investment trust’s stock after acquiring an additional 359,097 shares during the quarter. Thrivent Financial for Lutherans owned about 0.34% of Crown Castle worth $141,568,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Winnow Wealth LLC purchased a new position in Crown Castle in the second quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Crown Castle during the second quarter valued at about $27,000. NewSquare Capital LLC boosted its holdings in shares of Crown Castle by 74.5% in the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 120 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Crown Castle by 47.8% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 98 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of Crown Castle during the 3rd quarter worth approximately $29,000. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CCI shares. The Goldman Sachs Group cut their price target on shares of Crown Castle from $117.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, January 16th. Royal Bank Of Canada dropped their target price on Crown Castle from $112.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. Citigroup decreased their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Jefferies Financial Group lowered their price target on Crown Castle from $102.00 to $90.00 and set a “hold” rating for the company in a report on Tuesday, December 16th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $106.75.

Crown Castle Trading Down 0.1%

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

Crown Castle Announces Dividend

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

Crown Castle 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.