Renaissance Technologies LLC bought a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 26,903 shares of the real estate investment trust's stock, valued at approximately $2,442,000.
A number of other hedge funds also recently bought and sold shares of CCI. Bank of Nova Scotia grew its position in shares of Crown Castle by 12.5% in the 4th quarter. Bank of Nova Scotia now owns 63,312 shares of the real estate investment trust's stock worth $5,746,000 after buying an additional 7,043 shares during the last quarter. Invesco Ltd. boosted its holdings in Crown Castle by 11.1% in the fourth quarter. Invesco Ltd. now owns 4,380,013 shares of the real estate investment trust's stock valued at $397,530,000 after acquiring an additional 436,657 shares in the last quarter. Polymer Capital Management US LLC purchased a new position in Crown Castle during the 4th quarter valued at $802,000. Federated Hermes Inc. increased its position in Crown Castle by 210.3% during the 4th quarter. Federated Hermes Inc. now owns 5,961 shares of the real estate investment trust's stock valued at $541,000 after purchasing an additional 4,040 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new position in Crown Castle in the 4th quarter worth $251,000. Hedge funds and other institutional investors own 90.77% of the company's stock.
Crown Castle Stock Performance
Shares of CCI stock opened at $100.18 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a 50 day moving average price of $99.02 and a 200-day moving average price of $98.42. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The firm has a market capitalization of $43.62 billion, a PE ratio of 35.52 and a beta of 0.93.
Crown Castle Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 yield of 6.25%. Crown Castle's dividend payout ratio is presently -69.71%.
Analyst Ratings Changes
Several equities analysts recently issued reports on CCI shares. Citizens Jmp upgraded shares of Crown Castle to a "strong-buy" rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft reduced their target price on Crown Castle from $116.00 to $96.00 and set a "hold" rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company upgraded Crown Castle from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $85.00 to $105.00 in a research note on Monday, March 17th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Crown Castle in a research note on Tuesday, March 25th. Finally, KeyCorp raised Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 price objective for the company in a research report on Friday, March 14th. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $110.47.
Read Our Latest Analysis on CCI
About Crown Castle
(
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.
See Also
Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Castle Inc. (NYSE:CCI - Free Report).
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