Dark Forest Capital Management LP Buys 27,147 Shares of Crown Castle Inc. (NYSE:CCI)

Dark Forest Capital Management LP increased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 445.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 33,246 shares of the real estate investment trust’s stock after acquiring an additional 27,147 shares during the quarter. Crown Castle comprises about 0.4% of Dark Forest Capital Management LP’s holdings, making the stock its 28th largest position. Dark Forest Capital Management LP’s holdings in Crown Castle were worth $3,017,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Twin Tree Management LP bought a new position in Crown Castle in the 4th quarter valued at $25,000. FNY Investment Advisers LLC lifted its stake in shares of Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 300 shares during the period. Roxbury Financial LLC bought a new position in Crown Castle in the fourth quarter valued at about $37,000. Marshall Investment Management LLC acquired a new stake in Crown Castle in the fourth quarter worth about $50,000. Finally, Bank of Jackson Hole Trust bought a new stake in Crown Castle during the 4th quarter worth about $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Raymond James raised shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and lowered their target price for the stock from $128.00 to $122.00 in a report on Friday, March 14th. Royal Bank of Canada dropped their target price on shares of Crown Castle from $109.00 to $107.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Scotiabank raised their price target on Crown Castle from $99.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, 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 report on Monday, March 17th. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.47.

Crown Castle Price Performance

Shares of NYSE CCI opened at $104.39 on Wednesday. The company has a fifty day moving average price of $98.26 and a 200 day moving average price of $98.55. The firm has a market cap of $45.45 billion, a PE ratio of 37.02 and a beta of 0.93. 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 Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.00%. Crown Castle’s 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.