Duff & Phelps Investment Management Co. raised its holdings in Crown Castle Inc. (NYSE:CCI – Free Report) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 968,170 shares of the real estate investment trust’s stock after acquiring an additional 14,951 shares during the period. Crown Castle comprises 1.3% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 21st biggest holding. Duff & Phelps Investment Management Co. owned approximately 0.22% of Crown Castle worth $111,524,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Operose Advisors LLC bought a new position in Crown Castle in the 3rd quarter valued at approximately $30,000. Valley National Advisers Inc. lifted its stake in shares of Crown Castle by 51.1% in the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 97 shares during the last quarter. HHM Wealth Advisors LLC lifted its stake in shares of Crown Castle by 154.8% in the 3rd quarter. HHM Wealth Advisors LLC now owns 395 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 240 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in Crown Castle by 43.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 372 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 113 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in Crown Castle by 123.3% during the 3rd quarter. Larson Financial Group LLC now owns 480 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 265 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.
Crown Castle Trading Down 0.6 %
Shares of NYSE:CCI traded down $0.60 during midday trading on Tuesday, reaching $94.72. The company’s stock had a trading volume of 1,727,593 shares, compared to its average volume of 2,826,341. The firm has a market capitalization of $41.16 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 2.49 and a beta of 0.73. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $123.31. The firm has a 50 day moving average price of $103.39 and a two-hundred day moving average price of $105.42. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42.
Crown Castle Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $1.565 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.61%. Crown Castle’s dividend payout ratio is presently 195.63%.
Analyst Upgrades and Downgrades
Several equities analysts have commented on CCI shares. Bank of America dropped their target price on Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Scotiabank dropped their price objective on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Royal Bank of Canada boosted their target price on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 21st. Argus downgraded shares of Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Crown Castle has an average rating of “Hold” and an average price target of $113.29.
Get Our Latest Research Report on CCI
Crown Castle Company 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.
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