Duff & Phelps Investment Management Co. cut its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 855,116 shares of the real estate investment trust's stock after selling 39,722 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.20% of Crown Castle worth $77,610,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Versor Investments LP increased its holdings in Crown Castle by 120.0% in the 4th quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust's stock valued at $767,000 after purchasing an additional 4,608 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Crown Castle by 29.4% in the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust's stock valued at $113,465,000 after buying an additional 282,821 shares during the period. Oak Thistle LLC purchased a new stake in Crown Castle during the fourth quarter worth about $1,231,000. Avanza Fonder AB acquired a new stake in shares of Crown Castle during the fourth quarter worth about $3,083,000. Finally, Citizens Business Bank acquired a new position in shares of Crown Castle in the third quarter valued at approximately $620,000. 90.77% of the stock is owned by hedge funds and other institutional investors.
Crown Castle Price Performance
Shares of NYSE CCI traded up $0.05 during mid-day trading on Tuesday, reaching $104.28. 624,737 shares of the company traded hands, compared to its average volume of 2,853,378. The stock has a fifty day simple moving average of $94.47 and a 200-day simple moving average of $100.40. 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 firm has a market cap of $45.41 billion, a PE ratio of 37.10 and a beta of 0.89. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92.
Crown Castle Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.00%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle's dividend payout ratio is currently -69.71%.
Analysts Set New Price Targets
A number of analysts have weighed in on CCI shares. Raymond James upgraded Crown Castle from an "outperform" rating to a "strong-buy" rating and cut their price target for the company from $128.00 to $122.00 in a research note on Friday, March 14th. Deutsche Bank Aktiengesellschaft cut their target price on Crown Castle from $116.00 to $96.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. Citigroup upped their price target on Crown Castle from $106.00 to $108.00 and gave the company a "buy" rating in a report on Friday, March 14th. JPMorgan Chase & Co. cut their price objective on shares of Crown Castle from $121.00 to $115.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Finally, Bank of America assumed coverage on shares of Crown Castle in a report on Thursday, March 20th. They issued a "neutral" rating and a $110.00 target price for the company. Eleven 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.00.
Get Our Latest Stock Analysis on CCI
About Crown Castle
(
Free Report)
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.
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