3,505 Shares in Crown Castle Inc. (NYSE:CCI) Purchased by Parvin Asset Management LLC

Parvin Asset Management LLC bought a new position in shares of Crown Castle Inc. (NYSE:CCI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,505 shares of the real estate investment trust’s stock, valued at approximately $318,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CCI. Twin Tree Management LP purchased a new position in shares of Crown Castle in the 4th quarter worth about $25,000. FNY Investment Advisers LLC boosted its holdings in shares of Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. Roxbury Financial LLC purchased a new position in shares of Crown Castle in the 4th quarter worth about $37,000. Marshall Investment Management LLC purchased a new position in shares of Crown Castle in the 4th quarter worth about $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Crown Castle in the 4th quarter worth about $53,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CCI. Wells Fargo & Company upgraded Crown Castle from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $85.00 to $105.00 in a report on Monday, March 17th. Barclays increased their target price on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, March 17th. Argus raised Crown Castle to a “hold” rating in a research report on Friday, March 21st. Scotiabank upped their price target on Crown Castle from $99.00 to $109.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Crown Castle presently has an average rating of “Moderate Buy” and a consensus target price of $110.47.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $103.85 on Wednesday. The stock has a market cap of $45.22 billion, a price-to-earnings ratio of 36.83 and a beta of 0.93. The firm’s 50-day moving average is $99.51 and its 200 day moving average is $98.22. 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 declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s payout ratio is -69.71%.

Crown Castle Company 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.