Sagespring Wealth Partners LLC Invests $531,000 in Crown Castle Inc. (NYSE:CCI)

Sagespring Wealth Partners LLC bought a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,853 shares of the real estate investment trust's stock, valued at approximately $531,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Crown Castle by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust's stock valued at $5,672,451,000 after buying an additional 5,934,615 shares during the period. Wellington Management Group LLP grew its stake in Crown Castle by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust's stock valued at $1,892,332,000 after acquiring an additional 3,321,249 shares during the period. Geode Capital Management LLC increased its stake in Crown Castle by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust's stock worth $1,119,225,000 after purchasing an additional 228,007 shares in the last quarter. Norges Bank acquired a new stake in Crown Castle during the 4th quarter worth approximately $561,714,000. Finally, National Bank of Canada FI lifted its position in Crown Castle by 37.3% in the 4th quarter. National Bank of Canada FI now owns 5,793,842 shares of the real estate investment trust's stock valued at $525,849,000 after acquiring an additional 1,573,043 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. JPMorgan Chase & Co. cut their target price on Crown Castle from $121.00 to $115.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. KeyCorp upgraded Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 target price on the stock in a report on Friday, March 14th. Citigroup restated a "buy" rating on shares of Crown Castle in a research note on Tuesday, March 25th. Moffett Nathanson dropped their price objective on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Finally, Wolfe Research raised Crown Castle from an "underperform" rating to a "peer perform" rating in a report on Monday, March 17th. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Crown Castle has a consensus rating of "Moderate Buy" and a consensus price target of $109.88.

Crown Castle Stock Performance

Crown Castle stock traded up $2.26 during trading hours on Friday, hitting $103.51. The company had a trading volume of 1,860,139 shares, compared to its average volume of 2,888,471. The firm has a 50-day moving average of $97.73 and a 200 day moving average of $98.57. 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 market cap of $45.07 billion, a PE ratio of 36.71 and a beta of 0.93. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 dividend yield of 6.05%. Crown Castle's dividend payout ratio (DPR) is currently -69.71%.

Crown Castle Company Profile

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.