Russell Investments Group Ltd. Acquires 72,045 Shares of Crown Castle Inc. (NYSE:CCI)

Russell Investments Group Ltd. lifted its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,149,756 shares of the real estate investment trust's stock after acquiring an additional 72,045 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.26% of Crown Castle worth $104,321,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Accurate Wealth Management LLC boosted its stake in shares of Crown Castle by 5.4% in the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust's stock valued at $205,000 after purchasing an additional 124 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Crown Castle by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust's stock valued at $103,000 after buying an additional 126 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Crown Castle by 5.9% in the fourth quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust's stock valued at $216,000 after buying an additional 133 shares during the period. Howard Capital Management Inc. increased its position in shares of Crown Castle by 1.2% during the fourth quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust's stock worth $1,041,000 after acquiring an additional 135 shares in the last quarter. Finally, Cidel Asset Management Inc. raised its holdings in shares of Crown Castle by 6.4% during the fourth quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust's stock worth $207,000 after acquiring an additional 137 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BMO Capital Markets reiterated a "market perform" rating on shares of Crown Castle in a report on Tuesday, March 25th. Wells Fargo & Company upgraded Crown Castle from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $85.00 to $105.00 in a research note on Monday, March 17th. Bank of America assumed coverage on shares of Crown Castle in a research note on Thursday, March 20th. They set a "neutral" rating and a $110.00 price target for the company. KeyCorp raised shares of Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 price objective on the stock in a research report on Friday, March 14th. Finally, Citizens Jmp raised shares of Crown Castle to a "strong-buy" rating in a research report on Monday, January 27th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $109.88.

Crown Castle Stock Performance

Crown Castle stock traded up $0.25 during mid-day trading on Friday, hitting $95.41. 1,056,078 shares of the company's stock traded hands, compared to its average volume of 2,914,695. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $96.40 and a two-hundred day simple moving average of $99.35. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The stock has a market cap of $41.54 billion, a price-to-earnings ratio of 33.83 and a beta of 0.93.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.56%. The ex-dividend date was Friday, March 14th. Crown Castle's payout ratio is -69.71%.

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.