Arrowstreet Capital Limited Partnership Buys 458,476 Shares of Crown Castle Inc. (NYSE:CCI)

Arrowstreet Capital Limited Partnership boosted its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 99.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 918,645 shares of the real estate investment trust's stock after buying an additional 458,476 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.21% of Crown Castle worth $83,376,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CCI. Norges Bank bought a new stake in shares of Crown Castle during the fourth quarter valued at approximately $561,714,000. Vanguard Group Inc. increased its stake in Crown Castle by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust's stock valued at $5,672,451,000 after purchasing an additional 5,934,615 shares in the last quarter. Wellington Management Group LLP increased its stake in Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust's stock valued at $2,079,417,000 after purchasing an additional 3,371,186 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Crown Castle during the fourth quarter worth $95,167,000. Finally, State Street Corp lifted its stake in shares of Crown Castle by 3.7% in the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust's stock valued at $2,476,470,000 after buying an additional 747,390 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

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Crown Castle Stock Performance

Shares of CCI traded down $6.17 during mid-day trading on Friday, hitting $100.89. The stock had a trading volume of 4,772,543 shares, compared to its average volume of 2,880,876. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The business has a fifty day moving average price of $95.67 and a 200-day moving average price of $100.11. The firm has a market cap of $43.93 billion, a P/E ratio of 35.78 and a beta of 0.89.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.20%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is presently -69.71%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CCI. Raymond James upgraded shares of Crown Castle from an "outperform" rating to a "strong-buy" rating and lowered their target price for the stock from $128.00 to $122.00 in a report on Friday, March 14th. BMO Capital Markets reissued a "market perform" rating on shares of Crown Castle in a research note on Tuesday, March 25th. Citigroup reaffirmed a "buy" rating on shares of Crown Castle in a research report on Tuesday, March 25th. Jefferies Financial Group lowered Crown Castle from a "buy" rating to a "hold" rating and lowered their price target for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Finally, JMP Securities started coverage on shares of Crown Castle in a report on Monday, January 27th. They set an "outperform" rating and a $115.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Crown Castle has a consensus rating of "Moderate Buy" and a consensus price target of $110.00.

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.