Stevens Capital Management LP Makes New $984,000 Investment in Crown Castle Inc. (NYSE:CCI)

Stevens Capital Management LP purchased a new stake in Crown Castle Inc. (NYSE:CCI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,839 shares of the real estate investment trust's stock, valued at approximately $984,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust's stock valued at $2,079,417,000 after acquiring an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Crown Castle by 433.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust's stock valued at $470,838,000 after purchasing an additional 3,225,460 shares during the last quarter. Raymond James Financial Inc. bought a new position in Crown Castle during the fourth quarter worth about $95,167,000. State Street Corp increased its position in Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust's stock worth $2,476,470,000 after buying an additional 747,390 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in Crown Castle by 9,471.0% in the fourth quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust's stock valued at $748,000 after buying an additional 739,779 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wolfe Research upgraded Crown Castle from an "underperform" rating to a "peer perform" rating in a research note on Monday, March 17th. KeyCorp raised shares of 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. Barclays increased their price objective on shares of Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Crown Castle in a report on Tuesday. Finally, Argus raised shares of Crown Castle to a "hold" rating in a report on Friday, March 21st. Eleven 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 company. According to data from MarketBeat, Crown Castle currently has an average rating of "Moderate Buy" and an average price target of $110.00.

Crown Castle Price Performance

NYSE:CCI traded up $1.52 during mid-day trading on Thursday, reaching $102.61. The stock had a trading volume of 3,196,376 shares, compared to its average volume of 2,664,788. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The stock has a market capitalization of $44.68 billion, a PE ratio of 36.38 and a beta of 0.89. 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 stock has a 50-day simple moving average of $93.95 and a two-hundred day simple moving average of $100.88.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date is Friday, March 14th. Crown Castle's dividend payout ratio is presently -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.