KDK Private Wealth Management LLC Invests $6.92 Million in Crown Castle Inc. (NYSE:CCI)

KDK Private Wealth Management LLC bought a new stake in Crown Castle Inc. (NYSE:CCI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 76,241 shares of the real estate investment trust's stock, valued at approximately $6,920,000. Crown Castle comprises approximately 7.2% of KDK Private Wealth Management LLC's investment portfolio, making the stock its 3rd biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versor Investments LP boosted its stake 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 worth $767,000 after buying an additional 4,608 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Crown Castle by 29.4% in the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust's stock worth $113,465,000 after acquiring an additional 282,821 shares during the last quarter. Oak Thistle LLC purchased a new stake in Crown Castle in the fourth quarter valued at approximately $1,231,000. Avanza Fonder AB acquired a new position in Crown Castle during the fourth quarter worth approximately $3,083,000. Finally, American Century Companies Inc. raised its stake in Crown Castle by 3.4% during the fourth quarter. American Century Companies Inc. now owns 144,766 shares of the real estate investment trust's stock worth $13,139,000 after purchasing an additional 4,772 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

CCI traded up $1.26 during trading hours on Wednesday, hitting $101.77. 1,072,840 shares of the stock were exchanged, compared to its average volume of 3,434,781. The stock has a 50-day simple moving average of $96.97 and a 200-day simple moving average of $99.00. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The stock has a market cap of $44.31 billion, a price-to-earnings ratio of 36.09 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. Shareholders of record on Friday, March 14th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.15%. Crown Castle's dividend payout ratio is currently -69.71%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Raymond James raised Crown Castle from an "outperform" rating to a "strong-buy" rating and lowered their price target for the company from $128.00 to $122.00 in a research report on Friday, March 14th. JMP Securities started coverage on shares of Crown Castle in a research report on Monday, January 27th. They set an "outperform" rating and a $115.00 price target for the company. Citizens Jmp raised Crown Castle to a "strong-buy" rating in a research report on Monday, January 27th. Barclays increased their target price on Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a research note on Monday, March 17th. Finally, UBS Group raised Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price target on the stock in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Crown Castle has an average rating of "Hold" and an average target price of $109.88.

About Crown Castle

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.