EntryPoint Capital LLC Makes New Investment in Crown Castle Inc. (NYSE:CCI)

EntryPoint Capital LLC acquired a new stake in Crown Castle Inc. (NYSE:CCI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,603 shares of the real estate investment trust’s stock, valued at approximately $327,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Crown Castle by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock worth $5,672,451,000 after purchasing an additional 5,934,615 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after buying an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Crown Castle by 433.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock valued at $470,838,000 after buying an additional 3,225,460 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Crown Castle during the fourth quarter valued at about $95,167,000. Finally, State Street Corp increased its position in shares of Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after acquiring an additional 747,390 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 1.5 %

Shares of Crown Castle stock opened at $102.61 on Friday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $44.68 billion, a P/E ratio of 36.38 and a beta of 0.89. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The stock’s 50-day simple moving average is $93.95 and its 200 day simple moving average is $100.88.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.10%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CCI. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Wolfe Research raised Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 17th. KeyCorp raised Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price target for the company in a research report on Friday, March 14th. UBS Group raised shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective on the stock in a report on Friday, March 14th. Finally, Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their target price for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.00.

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.