Stonegate Investment Group LLC Boosts Holdings in Crown Castle Inc. (NYSE:CCI)

Stonegate Investment Group LLC grew its holdings in Crown Castle Inc. (NYSE:CCI) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,828 shares of the real estate investment trust’s stock after purchasing an additional 1,465 shares during the quarter. Stonegate Investment Group LLC’s holdings in Crown Castle were worth $1,890,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB boosted its stake in shares of Crown Castle by 29.4% in the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after purchasing an additional 282,821 shares during the period. Van ECK Associates Corp raised its holdings in Crown Castle by 24.7% in the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after acquiring an additional 31,319 shares in the last quarter. Oak Thistle LLC acquired a new stake in Crown Castle in the fourth quarter valued at approximately $1,231,000. Avanza Fonder AB acquired a new stake in Crown Castle in the fourth quarter valued at approximately $3,083,000. Finally, Fisher Asset Management LLC raised its holdings in Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after acquiring an additional 203,442 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI opened at $92.33 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market cap of $40.13 billion, a PE ratio of 32.74 and a beta of 0.87. The company’s 50 day simple moving average is $95.29 and its 200-day simple moving average is $105.41. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given 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 dividend yield of 6.78%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CCI shares. Moffett Nathanson reduced their target price on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Wells Fargo & Company reduced their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Citigroup set a $128.00 target price on shares of Crown Castle in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Finally, JMP Securities began coverage on shares of Crown Castle in a report on Monday. They set an “outperform” rating and a $115.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Crown Castle currently has a consensus rating of “Hold” and an average price target of $110.13.

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.