Crown Castle Inc. (NYSE:CCI) Shares Acquired by Cascade Investment Group Inc.

Cascade Investment Group Inc. boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 18.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,202 shares of the real estate investment trust’s stock after acquiring an additional 1,115 shares during the period. Cascade Investment Group Inc.’s holdings in Crown Castle were worth $654,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its stake in shares of Crown Castle by 29.4% during the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after purchasing an additional 282,821 shares in the last quarter. Van ECK Associates Corp increased its position in Crown Castle by 24.7% during the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after buying an additional 31,319 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Crown Castle in the fourth quarter worth $1,231,000. Fisher Asset Management LLC lifted its position in shares of 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. Finally, Citizens Business Bank acquired a new stake in shares of Crown Castle during the third quarter valued at $620,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on CCI shares. The Goldman Sachs Group upped their target price on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. TD Cowen reduced their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Citigroup set a $128.00 price target on Crown Castle in a research note on Thursday, October 17th. Finally, Wells Fargo & Company downgraded Crown Castle from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $105.00 to $100.00 in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and a consensus price target of $113.00.

Crown Castle Price Performance

Shares of NYSE CCI opened at $91.03 on Monday. The company has a market capitalization of $39.56 billion, a price-to-earnings ratio of 32.28 and a beta of 0.87. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The business has a 50-day moving average of $96.66 and a 200-day moving average of $105.61.

Crown Castle Announces Dividend

The company 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 of this dividend was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.88%. Crown Castle’s payout ratio is currently 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.