Crown Castle Inc. (NYSE:CCI) Stock Holdings Increased by Dark Forest Capital Management LP

Dark Forest Capital Management LP raised its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 445.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 33,246 shares of the real estate investment trust's stock after buying an additional 27,147 shares during the quarter. Crown Castle makes up about 0.4% of Dark Forest Capital Management LP's investment portfolio, making the stock its 28th largest holding. Dark Forest Capital Management LP's holdings in Crown Castle were worth $3,017,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CCI. Vanguard Group Inc. lifted its position in Crown Castle by 10.5% in 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 during the last quarter. Wellington Management Group LLP raised its holdings in shares of Crown Castle by 18.9% during the fourth 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 last quarter. Geode Capital Management LLC boosted its position in shares of Crown Castle by 1.9% during the fourth 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 period. Norges Bank bought a new position in Crown Castle in the 4th quarter worth approximately $561,714,000. Finally, National Bank of Canada FI increased its position in Crown Castle by 37.3% in the 4th 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 period. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Trading Down 0.6 %

Shares of CCI stock traded down $0.57 during trading hours on Friday, reaching $100.18. 1,716,710 shares of the stock traded hands, compared to its average volume of 2,880,031. The business has a fifty day moving average price of $99.02 and a 200 day moving average price of $98.42. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. 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 $43.62 billion, a PE ratio of 35.52 and a beta of 0.93.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $1.565 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.25%. Crown Castle's payout ratio is currently -69.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JMP Securities initiated coverage on Crown Castle in a research note on Monday, January 27th. They issued an "outperform" rating and a $115.00 price target for the company. UBS Group raised shares of Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 target price on the stock in a research note on Friday, March 14th. Royal Bank of Canada dropped their price target on shares of Crown Castle from $109.00 to $107.00 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. StockNews.com upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, April 19th. Finally, Scotiabank boosted their target price on Crown Castle from $99.00 to $109.00 and gave the stock a "sector perform" rating in a report on Tuesday. Twelve 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 company. According to data from MarketBeat.com, Crown Castle currently has an average rating of "Moderate Buy" and an average target price 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.