Edgestream Partners L.P. Purchases 15,236 Shares of Crown Castle Inc. $CCI

Edgestream Partners L.P. raised its position in shares of Crown Castle Inc. (NYSE:CCI) by 18.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,809 shares of the real estate investment trust’s stock after acquiring an additional 15,236 shares during the period. Edgestream Partners L.P.’s holdings in Crown Castle were worth $7,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CCI. Vanguard Group Inc. grew its holdings in shares of Crown Castle by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 69,769,393 shares of the real estate investment trust’s stock valued at $6,200,406,000 after purchasing an additional 386,733 shares in the last quarter. Cohen & Steers Inc. increased its position in Crown Castle by 11.0% in the fourth quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust’s stock worth $3,536,214,000 after purchasing an additional 3,953,685 shares during the last quarter. State Street Corp raised its stake in Crown Castle by 2.4% during the fourth quarter. State Street Corp now owns 22,239,559 shares of the real estate investment trust’s stock valued at $1,976,430,000 after purchasing an additional 511,018 shares in the last quarter. Wellington Management Group LLP raised its stake in Crown Castle by 2.8% during the fourth quarter. Wellington Management Group LLP now owns 13,986,852 shares of the real estate investment trust’s stock valued at $1,243,012,000 after purchasing an additional 380,419 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in Crown Castle by 15.7% during the first quarter. Lazard Asset Management LLC now owns 13,463,182 shares of the real estate investment trust’s stock valued at $1,094,691,000 after purchasing an additional 1,828,065 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CCI. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Scotiabank decreased their target price on shares of Crown Castle from $94.00 to $91.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 7th. TD Cowen lowered their price target on shares of Crown Castle from $94.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Citizens Jmp dropped their price target on Crown Castle from $125.00 to $120.00 and set a “market outperform” rating for the company in a research report on Friday, July 24th. Finally, Raymond James Financial boosted their price objective on Crown Castle from $102.00 to $108.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and an average price target of $95.13.

Crown Castle Trading Up 4.4%

Crown Castle stock opened at $79.11 on Thursday. Crown Castle Inc. has a 12-month low of $73.52 and a 12-month high of $112.75. The firm has a 50-day moving average price of $83.46 and a 200-day moving average price of $85.53. The firm has a market capitalization of $34.53 billion, a PE ratio of 40.16, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $1.0625 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $4.25 annualized dividend and a yield of 5.4%. Crown Castle’s dividend payout ratio (DPR) is presently 215.74%.

Crown Castle Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.