Polymer Capital Management US LLC purchased a new stake in Crown Castle Inc. (NYSE:CCI - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 8,831 shares of the real estate investment trust's stock, valued at approximately $802,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Twin Tree Management LP purchased a new position in Crown Castle in the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC lifted its stake in shares of Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 300 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Crown Castle during the 4th quarter worth approximately $37,000. Marshall Investment Management LLC acquired a new stake in Crown Castle in the fourth quarter valued at $50,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Crown Castle in the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 90.77% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently weighed in on CCI. Citizens Jmp raised Crown Castle to a "strong-buy" rating in a report on Monday, January 27th. Bank of America began coverage on Crown Castle in a report on Thursday, March 20th. They issued a "neutral" rating and a $110.00 price target for the company. Royal Bank of Canada reduced their price objective on Crown Castle from $109.00 to $107.00 and set a "sector perform" rating on the stock in a research note on Friday. Jefferies Financial Group cut shares of Crown Castle from a "buy" rating to a "hold" rating and dropped their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Crown Castle in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $109.88.
Check Out Our Latest Analysis on CCI
Crown Castle Stock Performance
Shares of NYSE CCI traded up $1.49 during trading hours on Friday, hitting $96.65. 3,419,518 shares of the company's stock were exchanged, compared to its average volume of 2,921,291. The company's 50-day moving average price is $96.56 and its 200-day moving average price is $99.21. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The stock has a market capitalization of $42.09 billion, a price-to-earnings ratio of 34.27 and a beta of 0.93. 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 Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.48%. Crown Castle's dividend payout ratio is -69.71%.
Crown Castle Company Profile
(
Free Report)
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.
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