Arrowstreet Capital Limited Partnership Has $83.38 Million Position in Crown Castle Inc. (NYSE:CCI)

Arrowstreet Capital Limited Partnership raised its stake in Crown Castle Inc. (NYSE:CCI) by 99.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 918,645 shares of the real estate investment trust’s stock after acquiring an additional 458,476 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Crown Castle were worth $83,376,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CCI. Intech Investment Management LLC acquired a new stake in Crown Castle during the third quarter worth about $518,000. Townsquare Capital LLC boosted its position in shares of Crown Castle by 25.9% during the 3rd quarter. Townsquare Capital LLC now owns 5,853 shares of the real estate investment trust’s stock worth $694,000 after acquiring an additional 1,203 shares in the last quarter. Captrust Financial Advisors increased its stake in Crown Castle by 21.5% in the third quarter. Captrust Financial Advisors now owns 17,919 shares of the real estate investment trust’s stock valued at $2,126,000 after acquiring an additional 3,176 shares during the last quarter. Erste Asset Management GmbH acquired a new position in Crown Castle during the third quarter valued at approximately $1,318,000. Finally, Kestra Investment Management LLC bought a new stake in Crown Castle during the third quarter worth $297,000. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $85.00 to $105.00 in a report on Monday, March 17th. Wolfe Research raised Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday, March 17th. UBS Group upgraded shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a research note on Friday, March 14th. Scotiabank lowered their price objective on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a research report on Friday, March 14th. Finally, Citigroup raised their target price on shares of Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $110.00.

Crown Castle Trading Up 0.8 %

NYSE CCI opened at $104.39 on Tuesday. The firm has a market capitalization of $45.45 billion, a PE ratio of 37.02 and a beta of 0.89. The business’s 50-day moving average price is $94.47 and its two-hundred day moving average price is $100.40. 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 12 month low of $84.20 and a 12 month high of $120.92.

Crown Castle Dividend Announcement

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