Assenagon Asset Management S.A. Lowers Position in Crown Castle Inc. (NYSE:CCI)

Assenagon Asset Management S.A. cut its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,036 shares of the real estate investment trust’s stock after selling 431 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Crown Castle were worth $1,962,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Magnolia Capital Advisors LLC lifted its stake in Crown Castle by 3.2% during the 4th quarter. Magnolia Capital Advisors LLC now owns 2,375 shares of the real estate investment trust’s stock worth $322,000 after acquiring an additional 73 shares in the last quarter. Summit Financial Group Inc. lifted its stake in Crown Castle by 5.5% during the 3rd quarter. Summit Financial Group Inc. now owns 1,638 shares of the real estate investment trust’s stock worth $237,000 after acquiring an additional 85 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in Crown Castle by 2.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 3,678 shares of the real estate investment trust’s stock worth $679,000 after acquiring an additional 86 shares in the last quarter. Dakota Community Bank & Trust NA lifted its stake in Crown Castle by 4.2% during the 3rd quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock worth $204,000 after acquiring an additional 90 shares in the last quarter. Finally, Townsend & Associates Inc lifted its stake in Crown Castle by 5.7% during the 4th quarter. Townsend & Associates Inc now owns 1,682 shares of the real estate investment trust’s stock worth $238,000 after acquiring an additional 90 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCI has been the topic of several research reports. BMO Capital Markets raised Crown Castle from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $107.00 to $110.00 in a research note on Friday, January 19th. Royal Bank of Canada increased their target price on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 21st. Finally, HSBC started coverage on Crown Castle in a research report on Thursday, December 14th. They issued a “hold” rating and a $110.00 price target on the stock. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $118.93.

Crown Castle Trading Down 0.8 %

NYSE:CCI opened at $101.31 on Friday. The stock’s 50 day moving average price is $107.33 and its 200 day moving average price is $104.81. The company has a market capitalization of $44.02 billion, a PE ratio of 29.28, a P/E/G ratio of 2.73 and a beta of 0.73. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $136.29.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $1.565 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.18%. Crown Castle’s dividend payout ratio is presently 180.92%.

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.