Crown Castle Inc. (NYSE:CCI) Shares Bought by Forsta AP Fonden

Forsta AP Fonden lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,400 shares of the real estate investment trust’s stock after purchasing an additional 9,800 shares during the quarter. Forsta AP Fonden’s holdings in Crown Castle were worth $13,469,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Bancorp Inc. grew its stake in shares of Crown Castle by 13.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 90 shares during the period. True North Advisors LLC grew its stake in Crown Castle by 4.2% in the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock valued at $278,000 after acquiring an additional 95 shares during the period. Malaga Cove Capital LLC grew its stake in Crown Castle by 1.8% in the 3rd quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock valued at $658,000 after acquiring an additional 100 shares during the period. Tsfg LLC grew its stake in Crown Castle by 27.5% in the 3rd quarter. Tsfg LLC now owns 542 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 117 shares during the period. Finally, Bleakley Financial Group LLC grew its stake in Crown Castle by 1.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,554 shares of the real estate investment trust’s stock valued at $777,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CCI. Wells Fargo & Company dropped their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. TD Cowen dropped their price target 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. UBS Group raised their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Crown Castle has an average rating of “Hold” and an average price target of $110.13.

Crown Castle Stock Down 1.9 %

Shares of CCI opened at $88.02 on Thursday. The firm has a market cap of $38.25 billion, a P/E ratio of 31.21 and a beta of 0.87. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The company’s 50-day moving average price is $94.75 and its 200 day moving average price is $105.24. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 7.11%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

Crown Castle 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.