6,709 Shares in Crown Castle Inc. (NYSE:CCI) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,709 shares of the real estate investment trust's stock, valued at approximately $609,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of 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 worth $5,672,451,000 after buying an additional 5,934,615 shares during the last quarter. Wellington Management Group LLP grew its holdings in Crown Castle by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust's stock worth $1,892,332,000 after purchasing an additional 3,321,249 shares during the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 228,007 shares in the last quarter. Norges Bank purchased a new stake in shares of Crown Castle during the 4th quarter valued at $561,714,000. Finally, National Bank of Canada FI boosted its position in shares of 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 worth $525,849,000 after purchasing an additional 1,573,043 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

CCI has been the subject of a number of research analyst reports. Citizens Jmp upgraded Crown Castle to a "strong-buy" rating in a research note on Monday, January 27th. StockNews.com downgraded shares of Crown Castle from a "hold" rating to a "sell" rating in a research report on Friday. Jefferies Financial Group downgraded shares of Crown Castle from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. Bank of America started coverage on Crown Castle in a research report on Thursday, March 20th. They issued a "neutral" rating and a $110.00 target price on the stock. Finally, Royal Bank of Canada reduced their price target on shares of Crown Castle from $109.00 to $107.00 and set a "sector perform" rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $109.88.

Crown Castle Price Performance

Crown Castle stock traded up $1.49 during trading on Friday, reaching $96.65. The company had a trading volume of 3,419,518 shares, compared to its average volume of 2,922,216. 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 firm's 50-day simple moving average is $96.56 and its 200 day simple moving average is $99.10. The firm has a market capitalization of $42.09 billion, a PE ratio of 34.27 and a beta of 0.93. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle Dividend Announcement

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

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.