KLP Kapitalforvaltning AS Makes New $13.51 Million Investment in Crown Castle Inc. (NYSE:CCI)

KLP Kapitalforvaltning AS acquired a new stake in Crown Castle Inc. (NYSE:CCI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 148,879 shares of the real estate investment trust's stock, valued at approximately $13,512,000.

A number of other institutional investors have also modified their holdings of the company. Versor Investments LP grew its stake in Crown Castle by 120.0% during the fourth 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 period. Nordea Investment Management AB boosted its position in Crown Castle by 29.4% during the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust's stock worth $113,465,000 after purchasing an additional 282,821 shares during the period. Oak Thistle LLC acquired a new stake in Crown Castle in the 4th quarter valued at $1,231,000. Avanza Fonder AB acquired a new position in shares of Crown Castle during the fourth quarter worth about $3,083,000. Finally, Fisher Asset Management LLC lifted its stake in shares of Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust's stock worth $603,592,000 after purchasing an additional 203,442 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Price Performance

Shares of NYSE CCI traded up $1.02 during mid-day trading on Friday, reaching $103.61. The company had a trading volume of 2,689,742 shares, compared to its average volume of 2,856,642. The company has a 50-day moving average price of $94.20 and a two-hundred day moving average price of $100.78. The stock has a market cap of $45.11 billion, a PE ratio of 36.74 and a beta of 0.89. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

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Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.565 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.04%. Crown Castle's dividend payout ratio is currently -69.71%.

Analyst Ratings Changes

CCI has been the topic of a number of recent research reports. Raymond James raised shares of Crown Castle from an "outperform" rating to a "strong-buy" rating and reduced their target price for the stock from $128.00 to $122.00 in a research 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. Moffett Nathanson lowered their target price on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on Crown Castle from $116.00 to $96.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Crown Castle in a research report on Tuesday. Eleven 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's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $110.00.

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.