Crown Castle Inc. (NYSE:CCI) Shares Purchased by Ballentine Partners LLC

Ballentine Partners LLC raised its position in Crown Castle Inc. (NYSE:CCI) by 258.3% during the 4th quarter, Holdings Channel reports. The firm owned 8,886 shares of the real estate investment trust’s stock after acquiring an additional 6,406 shares during the quarter. Ballentine Partners LLC’s holdings in Crown Castle were worth $1,024,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Riverview Trust Co increased its position in shares of Crown Castle by 108.5% in the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 140 shares in the last quarter. ST Germain D J Co. Inc. purchased a new position in shares of Crown Castle in the second quarter valued at $27,000. West Tower Group LLC purchased a new position in shares of Crown Castle in the second quarter valued at $28,000. Almanack Investment Partners LLC. purchased a new position in shares of Crown Castle in the third quarter valued at $28,000. Finally, PCA Investment Advisory Services Inc. purchased a new position in shares of Crown Castle in the second quarter valued at $29,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. HSBC assumed coverage on Crown Castle in a research report on Thursday, December 14th. They issued a “hold” rating and a $110.00 price target for the company. BMO Capital Markets raised Crown Castle from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $107.00 to $110.00 in a research note on Friday, January 19th. Finally, Royal Bank of Canada increased their price objective on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 21st. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Crown Castle currently has a consensus rating of “Hold” and a consensus target price of $118.93.

Crown Castle Stock Down 0.8 %

Shares of NYSE:CCI opened at $101.31 on Friday. The stock’s 50-day moving average price is $107.33 and its two-hundred day moving average price is $104.81. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $136.29. The firm has a market cap of $44.02 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 2.71 and a beta of 0.73.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.565 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.18%. Crown Castle’s dividend payout ratio (DPR) is 180.92%.

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.