Crown Castle Inc. (NYSE:CCI) Shares Acquired by Forsta AP Fonden

Forsta AP Fonden lifted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 148,400 shares of the real estate investment trust’s stock after buying an additional 9,800 shares during the quarter. Forsta AP Fonden’s holdings in Crown Castle were worth $13,469,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CCI. NewEdge Advisors LLC lifted its stake in Crown Castle by 2.1% during the second quarter. NewEdge Advisors LLC now owns 17,879 shares of the real estate investment trust’s stock worth $1,747,000 after purchasing an additional 372 shares during the last quarter. Sunbelt Securities Inc. raised its stake in shares of Crown Castle by 47.7% during the second quarter. Sunbelt Securities Inc. now owns 3,368 shares of the real estate investment trust’s stock worth $329,000 after purchasing an additional 1,087 shares during the last quarter. 3Chopt Investment Partners LLC purchased a new stake in shares of Crown Castle during the second quarter worth approximately $331,000. New Century Financial Group LLC purchased a new stake in shares of Crown Castle during the second quarter worth approximately $247,000. Finally, Clearbridge Investments LLC raised its stake in shares of Crown Castle by 9.8% during the second quarter. Clearbridge Investments LLC now owns 3,335 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Citigroup set a $128.00 price objective on Crown Castle in a report on Thursday, October 17th. JMP Securities initiated coverage on Crown Castle in a research note on Monday. They set an “outperform” rating and a $115.00 price objective on the stock. TD Cowen decreased their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company reduced their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. Finally, Scotiabank reduced their target price on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $110.13.

Crown Castle Price Performance

Shares of NYSE CCI opened at $88.02 on Thursday. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The business has a 50 day moving average price of $94.75 and a two-hundred day moving average price of $105.24. 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 firm has a market cap of $38.25 billion, a PE ratio of 31.21 and a beta of 0.87.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 7.11%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Crown Castle 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.