Waterloo Capital L.P. purchased a new stake in Crown Castle Inc. (NYSE:CCI – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 20,965 shares of the real estate investment trust’s stock, valued at approximately $1,863,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Crown Castle by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 69,769,393 shares of the real estate investment trust’s stock valued at $6,200,406,000 after purchasing an additional 386,733 shares in the last quarter. State Street Corp boosted its holdings in Crown Castle by 1.2% in the third quarter. State Street Corp now owns 21,728,541 shares of the real estate investment trust’s stock valued at $2,096,587,000 after purchasing an additional 266,963 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Crown Castle by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 13,027,749 shares of the real estate investment trust’s stock valued at $1,156,972,000 after purchasing an additional 184,533 shares in the last quarter. Norges Bank acquired a new position in Crown Castle in the fourth quarter valued at approximately $594,670,000. Finally, Invesco Ltd. boosted its holdings in Crown Castle by 33.2% in the third quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust’s stock valued at $621,172,000 after purchasing an additional 1,605,291 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.
Crown Castle Price Performance
Crown Castle stock opened at $91.56 on Monday. Crown Castle Inc. has a 12 month low of $75.96 and a 12 month high of $115.76. The business has a 50 day simple moving average of $86.68 and a 200-day simple moving average of $87.66. 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 Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Monday, June 15th. Crown Castle’s dividend payout ratio is 175.62%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. JPMorgan Chase & Co. lowered their price target on Crown Castle from $110.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Truist Financial assumed coverage on Crown Castle in a research note on Tuesday, March 31st. They issued a “hold” rating and a $90.00 price objective for the company. Barclays boosted their price objective on Crown Castle from $91.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Finally, Jefferies Financial Group boosted their price objective on Crown Castle from $84.00 to $89.00 and gave the company a “hold” rating in a research note on Tuesday, April 14th. Two investment 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, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.52.
View Our Latest Analysis on CCI
About Crown Castle
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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