Russell Investments Group Ltd. Acquires 72,045 Shares of Crown Castle Inc. (NYSE:CCI)

Russell Investments Group Ltd. raised its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 6.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,149,756 shares of the real estate investment trust’s stock after acquiring an additional 72,045 shares during the period. Russell Investments Group Ltd.’s holdings in Crown Castle were worth $104,321,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Twin Tree Management LP purchased a new stake in Crown Castle during the 4th quarter valued at about $25,000. FNY Investment Advisers LLC boosted its stake in shares of Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 300 shares during the period. Roxbury Financial LLC bought a new position in shares of Crown Castle in the fourth quarter worth approximately $37,000. Marshall Investment Management LLC purchased a new position in shares of Crown Castle in the fourth quarter worth $50,000. Finally, Bank of Jackson Hole Trust bought a new stake in Crown Castle during the 4th quarter valued at $53,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 5.8 %

Crown Castle stock opened at $100.89 on Friday. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The business’s fifty day simple moving average is $95.67 and its two-hundred day simple moving average is $100.11. The company has a market capitalization of $43.93 billion, a price-to-earnings ratio of 35.78 and a beta of 0.89.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.20%. The ex-dividend date was Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is -69.71%.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. 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. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Bank of America initiated coverage on Crown Castle in a report on Thursday, March 20th. They set a “neutral” rating and a $110.00 target price for the company. Finally, Wells Fargo & Company raised shares of Crown Castle from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $85.00 to $105.00 in a research report on Monday, March 17th. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $110.00.

Crown Castle 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.