Federated Hermes Inc. Boosts Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Federated Hermes Inc. grew its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 210.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,961 shares of the real estate investment trust's stock after buying an additional 4,040 shares during the period. Federated Hermes Inc.'s holdings in Crown Castle were worth $541,000 as of its most recent filing with the SEC.

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

Crown Castle Stock Performance

Shares of NYSE:CCI traded up $2.26 during midday trading on Tuesday, reaching $104.39. 2,276,298 shares of the company traded hands, compared to its average volume of 2,884,075. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The firm's fifty day moving average price is $98.26 and its two-hundred day moving average price is $98.55. 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 firm has a market capitalization of $45.45 billion, a price-to-earnings ratio of 37.02 and a beta of 0.93.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.00%. Crown Castle's dividend payout ratio (DPR) is presently -69.71%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CCI shares. Jefferies Financial Group downgraded shares of Crown Castle from a "buy" rating to a "hold" rating and decreased their target price for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Bank of America began coverage on Crown Castle in a report on Thursday, March 20th. They issued a "neutral" rating and a $110.00 target price on the stock. Scotiabank lifted their target price on Crown Castle from $99.00 to $109.00 and gave the company a "sector perform" rating in a research report on Tuesday. Wells Fargo & Company raised Crown Castle from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $85.00 to $105.00 in a research report on Monday, March 17th. Finally, BMO Capital Markets restated a "market perform" rating on shares of Crown Castle in a research note on Tuesday, March 25th. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $110.47.

Crown Castle Company 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.