Crown Castle Inc. (NYSE:CCI) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 210.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,961 shares of the real estate investment trust’s stock after buying an additional 4,040 shares during the period. Federated Hermes Inc.’s holdings in Crown Castle were worth $541,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new position in Crown Castle during the fourth quarter worth approximately $251,000. Russell Investments Group Ltd. raised its position in shares of Crown Castle by 6.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,149,756 shares of the real estate investment trust’s stock worth $104,321,000 after buying an additional 72,045 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Crown Castle in the fourth quarter valued at $609,000. Aviva PLC grew its position in Crown Castle by 3.1% during the fourth quarter. Aviva PLC now owns 552,427 shares of the real estate investment trust’s stock valued at $50,138,000 after acquiring an additional 16,705 shares during the period. Finally, Resona Asset Management Co. Ltd. purchased a new stake in Crown Castle during the fourth quarter valued at about $6,437,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of CCI stock opened at $101.34 on Thursday. The firm has a fifty day moving average of $97.20 and a two-hundred day moving average of $99.01. The firm has a market cap of $44.13 billion, a P/E ratio of 35.94 and a beta of 0.93. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.18%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s dividend payout ratio is currently -69.71%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CCI. KeyCorp upgraded Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 target price for the company in a report on Friday, March 14th. Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $85.00 to $105.00 in a research note on Monday, March 17th. Citigroup reissued a “buy” rating on shares of Crown Castle in a research note on Tuesday, March 25th. Bank of America assumed coverage on shares of Crown Castle in a research report on Thursday, March 20th. They set a “neutral” rating and a $110.00 price target for the company. Finally, JMP Securities initiated coverage on Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $109.88.

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.