KLP Kapitalforvaltning AS Takes $13.51 Million Position in Crown Castle Inc. (NYSE:CCI)

KLP Kapitalforvaltning AS acquired a new stake in Crown Castle Inc. (NYSE:CCI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 148,879 shares of the real estate investment trust’s stock, valued at approximately $13,512,000.

Other large investors have also recently added to or reduced their stakes in the company. Twin Tree Management LP acquired a new position in Crown Castle in the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC lifted its holdings in Crown Castle by 300.0% in 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 last quarter. Roxbury Financial LLC acquired a new position in Crown Castle in the fourth quarter valued at approximately $37,000. Marshall Investment Management LLC acquired a new position in Crown Castle in the fourth quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in Crown Castle in the fourth quarter valued at approximately $53,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CCI shares. Scotiabank decreased their price objective on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a report on Friday, March 14th. KeyCorp upgraded Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price target on the stock in a research note on Friday, March 14th. Citigroup upped their price target on Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from $128.00 to $122.00 in a research note on Friday, March 14th. Finally, Bank of America initiated coverage on Crown Castle in a research note on Thursday. They set a “neutral” rating and a $110.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.00.

Crown Castle Stock Performance

NYSE:CCI opened at $106.61 on Monday. The firm has a market capitalization of $46.42 billion, a PE ratio of 37.81 and a beta of 0.89. The business’s fifty day moving average price is $92.77 and its 200 day moving average price is $101.04. 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 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 will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 5.87%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

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.