APG Asset Management N.V. Invests $20.77 Million in Crown Castle Inc. (NYSE:CCI)

APG Asset Management N.V. purchased a new position in Crown Castle Inc. (NYSE:CCI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 237,000 shares of the real estate investment trust's stock, valued at approximately $20,773,000. APG Asset Management N.V. owned about 0.05% of Crown Castle as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CCI. Twin Tree Management LP purchased a new stake in shares of Crown Castle in the fourth quarter worth approximately $25,000. FNY Investment Advisers LLC increased its position in Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 300 shares in the last quarter. Roxbury Financial LLC purchased a new position in shares of Crown Castle in the 4th quarter valued at approximately $37,000. Marshall Investment Management LLC acquired a new position in shares of Crown Castle in the 4th quarter valued at $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in Crown Castle during the fourth quarter valued at $53,000. Institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

CCI has been the subject of several research analyst reports. Wells Fargo & Company upgraded shares of Crown Castle from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $85.00 to $105.00 in a research report on Monday, March 17th. Argus upgraded shares of Crown Castle to a "hold" rating in a report on Friday, March 21st. Citigroup reissued a "buy" rating on shares of Crown Castle in a research report on Tuesday, March 25th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Crown Castle in a research report on Tuesday, March 25th. Finally, Royal Bank of Canada dropped their target price on Crown Castle from $109.00 to $107.00 and set a "sector perform" rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $109.88.

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Crown Castle Stock Performance

CCI stock traded up $1.46 during mid-day trading on Tuesday, reaching $101.30. The company had a trading volume of 925,774 shares, compared to its average volume of 2,914,513. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock's 50-day simple moving average is $96.76 and its two-hundred day simple moving average is $98.99. The stock has a market capitalization of $44.11 billion, a P/E ratio of 35.92 and a beta of 0.93. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.18%. The ex-dividend date was Friday, March 14th. Crown Castle's dividend payout ratio is currently -69.71%.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them.