Russell Investments Group Ltd. Raises Position in Crown Castle Inc. (NYSE:CCI)

Russell Investments Group Ltd. increased its stake in Crown Castle Inc. (NYSE:CCI) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,149,756 shares of the real estate investment trust’s stock after purchasing an additional 72,045 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.26% of Crown Castle worth $104,321,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CCI. Twin Tree Management LP bought a new stake in shares of Crown Castle in the fourth quarter valued at $25,000. FNY Investment Advisers LLC raised its stake in 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 valued at $36,000 after acquiring an additional 300 shares during the period. Roxbury Financial LLC purchased a new stake in Crown Castle during the fourth quarter valued at about $37,000. Marshall Investment Management LLC bought a new position in Crown Castle during the fourth quarter worth about $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Crown Castle in the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CCI. JPMorgan Chase & Co. cut their price objective on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $128.00 to $122.00 in a research report on Friday, March 14th. Citigroup reissued a “buy” rating on shares of Crown Castle in a report on Tuesday, March 25th. 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, Moffett Nathanson lowered their price target on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $110.00.

Crown Castle Stock Down 5.8 %

CCI opened at $100.89 on Friday. The company has a quick ratio of 0.54, a current 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 200 day simple moving average is $100.11. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The stock has a market cap of $43.93 billion, a PE 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 issued a dividend of $1.565 per share. The ex-dividend date was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.20%. Crown Castle’s dividend payout ratio is -69.71%.

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.