Crown Castle Inc. (NYSE:CCI) Shares Acquired by Parallel Advisors LLC

Parallel Advisors LLC boosted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 3,827.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,965 shares of the real estate investment trust’s stock after purchasing an additional 179,281 shares during the quarter. Parallel Advisors LLC’s holdings in Crown Castle were worth $16,697,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Twin Tree Management LP bought a new stake in Crown Castle in the fourth quarter valued at $25,000. FNY Investment Advisers LLC increased its holdings in shares of Crown Castle by 300.0% in 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 during the period. Roxbury Financial LLC bought a new stake in Crown Castle in the 4th quarter valued at about $37,000. Investors Research Corp boosted its stake in Crown Castle by 57.2% during the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 154 shares during the period. Finally, Marshall Investment Management LLC bought a new position in Crown Castle in the 4th quarter worth about $50,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their price target on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a report on Friday. Scotiabank cut their target price on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a research note on Friday. Jefferies Financial Group lowered 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. KeyCorp raised Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price target on the stock in a report on Friday. Finally, Moffett Nathanson reduced their price objective on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Crown Castle has an average rating of “Moderate Buy” and a consensus price target of $109.12.

Crown Castle Trading Up 8.5 %

Shares of NYSE:CCI opened at $103.20 on Monday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $44.85 billion, a price-to-earnings ratio of 36.59 and a beta of 0.89. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a 50 day moving average price of $91.00 and a 200 day moving average price of $101.32.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.07%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio is presently 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.