Sterling Capital Management LLC Increases Holdings in Crown Castle Inc. (NYSE:CCI)

Sterling Capital Management LLC raised its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 55.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,905 shares of the real estate investment trust's stock after purchasing an additional 9,216 shares during the quarter. Sterling Capital Management LLC's holdings in Crown Castle were worth $2,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CCI. Twin Tree Management LP purchased a new position in shares of Crown Castle during the 4th quarter valued at $25,000. FNY Investment Advisers LLC raised its position 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 valued at $36,000 after purchasing an additional 300 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Crown Castle during the 4th quarter valued at approximately $37,000. Marshall Investment Management LLC bought a new position in Crown Castle in the 4th quarter worth approximately $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in Crown Castle in the 4th quarter valued at approximately $53,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Trading Up 2.2 %

Shares of NYSE CCI traded up $2.26 during midday trading on Friday, reaching $103.51. The company had a trading volume of 1,860,139 shares, compared to its average volume of 2,897,139. The stock 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. The firm's fifty day moving average price is $97.73 and its 200-day moving average price is $98.80. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Dividend Announcement

The business also recently disclosed 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 6.05%. Crown Castle's payout ratio is currently -69.71%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup reaffirmed a "buy" rating on shares of Crown Castle in a report on Tuesday, March 25th. Jefferies Financial Group cut shares of Crown Castle from a "buy" rating to a "hold" rating and decreased their price target for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. dropped their price objective on Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company 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 research note on Friday, March 14th. Finally, Moffett Nathanson cut their price objective on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Crown Castle presently has a consensus rating of "Moderate Buy" and an average target price of $109.88.

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.