Magnetar Financial LLC Purchases New Stake in Crown Castle Inc. (NYSE:CCI)

Magnetar Financial LLC bought a new position in Crown Castle Inc. (NYSE:CCI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 64,548 shares of the real estate investment trust's stock, valued at approximately $5,858,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GSA Capital Partners LLP bought a new stake in Crown Castle during the 3rd quarter valued at $522,000. Empowered Funds LLC raised its stake in shares of Crown Castle by 13.5% during the 3rd quarter. Empowered Funds LLC now owns 12,842 shares of the real estate investment trust's stock valued at $1,523,000 after purchasing an additional 1,531 shares during the period. Pathstone Holdings LLC lifted its holdings in Crown Castle by 0.6% during the 3rd quarter. Pathstone Holdings LLC now owns 41,982 shares of the real estate investment trust's stock worth $4,980,000 after purchasing an additional 230 shares in the last quarter. Caprock Group LLC boosted its stake in Crown Castle by 19.0% in the 3rd quarter. Caprock Group LLC now owns 11,285 shares of the real estate investment trust's stock worth $1,339,000 after purchasing an additional 1,802 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its holdings in Crown Castle by 46.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,293 shares of the real estate investment trust's stock valued at $628,000 after buying an additional 1,674 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Crown Castle Trading Down 1.9 %

Crown Castle stock traded down $1.98 during mid-day trading on Monday, hitting $104.42. The company's stock had a trading volume of 4,168,611 shares, compared to its average volume of 2,646,278. The business has a 50 day moving average price of $93.15 and a 200-day moving average price of $100.97. 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 $45.47 billion, a price-to-earnings ratio of 37.03 and a beta of 0.89.

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Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is presently -69.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group raised shares of Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price target on the stock in a report on Friday, March 14th. Citizens Jmp upgraded shares of Crown Castle to a "strong-buy" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. reduced their price target on shares of Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Barclays increased their price objective on Crown Castle from $104.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, March 17th. Finally, Wolfe Research upgraded Crown Castle from an "underperform" rating to a "peer perform" rating in a research report on Monday, March 17th. 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 stock. According to MarketBeat.com, Crown Castle has a consensus rating of "Moderate Buy" and a consensus target price 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.