Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Crown Castle Inc. (NYSE:CCI – Free Report) by 5.9% during the 4th quarter, Holdings Channel reports. The firm owned 952,037 shares of the real estate investment trust’s stock after acquiring an additional 52,723 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Crown Castle were worth $84,608,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wiser Advisor Group LLC bought a new position in Crown Castle in the third quarter worth approximately $29,000. LRI Investments LLC bought a new position in Crown Castle in the third quarter worth approximately $29,000. Triumph Capital Management bought a new position in Crown Castle in the third quarter worth approximately $31,000. KERR FINANCIAL PLANNING Corp bought a new position in Crown Castle in the third quarter worth approximately $31,000. Finally, Cornerstone Planning Group LLC boosted its position in Crown Castle by 269.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 381 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 278 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.
Crown Castle Trading Up 0.5%
Shares of NYSE CCI opened at $91.56 on Friday. The stock has a market capitalization of $39.96 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 0.46 and a beta of 0.93. Crown Castle Inc. has a 12-month low of $75.96 and a 12-month high of $115.76. The stock’s fifty day simple moving average is $86.68 and its two-hundred day simple moving average is $87.69.
Crown Castle Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $1.0625 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.6%. Crown Castle’s dividend payout ratio (DPR) is presently 175.62%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. Sanford C. Bernstein assumed coverage on Crown Castle in a research report on Thursday, March 5th. They set an “outperform” rating and a $102.00 target price on the stock. Barclays increased their target price on Crown Castle from $91.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Scotiabank dropped their target price on 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. Wolfe Research cut Crown Castle from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 20th. Finally, BMO Capital Markets increased their target price on Crown Castle from $91.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.52.
Read Our Latest Research Report on Crown Castle
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.
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