Aster Capital Management DIFC Ltd Purchases Shares of 2,764 Crown Castle Inc. (NYSE:CCI)

Aster Capital Management DIFC Ltd bought a new stake in Crown Castle Inc. (NYSE:CCI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,764 shares of the real estate investment trust's stock, valued at approximately $251,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CCI. Vanguard Group Inc. grew its holdings in shares of Crown Castle by 10.5% in the fourth 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 during the period. Wellington Management Group LLP grew its stake in shares of Crown Castle by 18.9% in the 4th quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust's stock valued at $1,892,332,000 after buying an additional 3,321,249 shares during the period. Geode Capital Management LLC increased its holdings in shares of Crown Castle by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust's stock worth $1,119,225,000 after buying an additional 228,007 shares during the last quarter. Norges Bank purchased a new stake in shares of Crown Castle during the 4th quarter valued at approximately $561,714,000. Finally, National Bank of Canada FI lifted its holdings in Crown Castle by 37.3% in the fourth quarter. National Bank of Canada FI now owns 5,793,842 shares of the real estate investment trust's stock valued at $525,849,000 after acquiring an additional 1,573,043 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Crown Castle Stock Up 1.6 %

Shares of CCI traded up $1.49 during midday trading on Friday, hitting $96.65. The company had a trading volume of 3,419,518 shares, compared to its average volume of 2,922,216. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The firm has a market capitalization of $42.09 billion, a P/E ratio of 34.27 and a beta of 0.93. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The company's 50-day simple moving average is $96.56 and its 200-day simple moving average is $99.10.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $1.565 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.48%. Crown Castle's dividend payout ratio is currently -69.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CCI shares. Raymond James upgraded Crown Castle from an "outperform" rating to a "strong-buy" rating and reduced their target price for the company from $128.00 to $122.00 in a research report on Friday, March 14th. Argus upgraded shares of Crown Castle to a "hold" rating in a report on Friday, March 21st. UBS Group raised shares of Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 target price for the company in a research note on Friday, March 14th. Jefferies Financial Group cut shares of Crown Castle from a "buy" rating to a "hold" rating and dropped their price target for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Finally, KeyCorp upgraded shares of Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 price objective on the stock in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Crown Castle has a consensus rating of "Hold" and a consensus price target of $109.88.

Crown Castle Profile

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.