Deutsche Bank AG lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI – Free Report) by 40.5% in the 4th quarter, HoldingsChannel reports. The fund owned 7,159,803 shares of the real estate investment trust’s stock after purchasing an additional 2,065,247 shares during the period. Deutsche Bank AG’s holdings in Crown Castle were worth $636,292,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Foresight Group Ltd Liability Partnership increased its position in shares of Crown Castle by 25.8% during the third quarter. Foresight Group Ltd Liability Partnership now owns 103,407 shares of the real estate investment trust’s stock worth $9,950,000 after acquiring an additional 21,194 shares in the last quarter. Aberdeen Group plc increased its position in shares of Crown Castle by 13.9% during the fourth quarter. Aberdeen Group plc now owns 1,052,667 shares of the real estate investment trust’s stock worth $93,551,000 after acquiring an additional 128,212 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Crown Castle by 9.9% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 672,933 shares of the real estate investment trust’s stock worth $60,086,000 after acquiring an additional 60,497 shares in the last quarter. Vinva Investment Management Ltd increased its position in shares of Crown Castle by 30.9% during the third quarter. Vinva Investment Management Ltd now owns 197,804 shares of the real estate investment trust’s stock worth $19,027,000 after acquiring an additional 46,693 shares in the last quarter. Finally, Skylands Capital LLC increased its position in shares of Crown Castle by 6.2% during the fourth quarter. Skylands Capital LLC now owns 262,050 shares of the real estate investment trust’s stock worth $23,288,000 after acquiring an additional 15,300 shares in the last quarter. 90.77% of the stock is owned by institutional investors.
Crown Castle Stock Performance
Shares of CCI stock opened at $92.47 on Wednesday. Crown Castle Inc. has a 52-week low of $75.96 and a 52-week high of $115.76. The company has a 50-day simple moving average of $88.30 and a two-hundred day simple moving average of $87.65. The company has a market capitalization of $40.36 billion, a price-to-earnings ratio of 38.21, a PEG ratio of 0.47 and a beta of 0.93.
Crown Castle Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Monday, June 15th. Crown Castle’s payout ratio is presently 175.62%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on CCI shares. Wells Fargo & Company reissued an “equal weight” rating and set a $85.00 target price (down from $90.00) on shares of Crown Castle in a research report on Monday, March 23rd. Raymond James Financial upped their price objective on shares of Crown Castle from $102.00 to $108.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 23rd. Truist Financial began coverage on shares of Crown Castle in a research report on Tuesday, March 31st. They issued a “hold” rating and a $90.00 price objective for the company. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Zacks Research raised shares of Crown Castle from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $98.52.
View Our Latest Stock Report on Crown Castle
Crown Castle Company 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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