OFI Invest Asset Management Makes New Investment in Crown Castle Inc. (NYSE:CCI)

OFI Invest Asset Management acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,517 shares of the real estate investment trust’s stock, valued at approximately $747,000.

Other hedge funds also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC grew its holdings in Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 300 shares in the last quarter. Roxbury Financial LLC acquired a new position in Crown Castle during the 4th quarter worth $37,000. Investors Research Corp lifted its position in shares of Crown Castle by 57.2% in the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 154 shares during the last quarter. Marshall Investment Management LLC bought a new position in shares of Crown Castle in the 4th quarter worth about $50,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Crown Castle in the 4th quarter worth about $53,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CCI. Moffett Nathanson reduced their price target on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their price target for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. JMP Securities began coverage on shares of Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target on the stock. Scotiabank reduced their price target on shares of 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. Finally, Citigroup reduced their price target on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $108.75.

Crown Castle Stock Up 2.7 %

CCI stock opened at $97.78 on Monday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The company has a market capitalization of $42.49 billion, a price-to-earnings ratio of 34.67 and a beta of 0.89. The firm’s 50-day moving average is $90.22 and its two-hundred day moving average is $101.83. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $1.565 per share. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.40%. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

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.