Inceptionr LLC Buys Shares of 4,611 Crown Castle Inc. (NYSE:CCI)

Inceptionr LLC bought a new stake in Crown Castle Inc. (NYSE:CCI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,611 shares of the real estate investment trust’s stock, valued at approximately $418,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Crown Castle by 23.8% in the 3rd 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Crown Castle by 433.8% in the 3rd 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 during the period. Raymond James Financial Inc. acquired a new stake in shares of Crown Castle in the 4th quarter valued at approximately $95,167,000. State Street Corp lifted its holdings in shares of Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after buying an additional 747,390 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Crown Castle by 9,471.0% in the 4th quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust’s stock valued at $748,000 after buying an additional 739,779 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CCI has been the subject of a number of analyst reports. JMP Securities began coverage on Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target for the company. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $117.00 to $104.00 in a research report on Monday, January 13th. Moffett Nathanson lowered their price objective on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, Citigroup lowered their price objective on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $108.75.

Crown Castle Price Performance

CCI stock opened at $97.78 on Friday. The stock has a 50-day moving average price of $90.22 and a two-hundred day moving average price of $101.88. 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 company has a market cap of $42.49 billion, a PE ratio of 34.67 and a beta of 0.89.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio is presently 221.99%.

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.