Intech Investment Management LLC Buys 9,288 Shares of Crown Castle Inc. (NYSE:CCI)

Intech Investment Management LLC raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 212.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,658 shares of the real estate investment trust’s stock after purchasing an additional 9,288 shares during the period. Intech Investment Management LLC’s holdings in Crown Castle were worth $1,240,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Twin Tree Management LP bought a new position in Crown Castle during the 4th quarter worth $25,000. FNY Investment Advisers LLC raised its position in Crown Castle by 300.0% during 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 during the last quarter. Roxbury Financial LLC bought a new position in Crown Castle during the 4th quarter worth $37,000. Marshall Investment Management LLC bought a new position in Crown Castle during the 4th quarter worth $50,000. Finally, Bank of Jackson Hole Trust bought a new position in Crown Castle during the 4th quarter worth $53,000. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CCI has been the subject of several analyst reports. Citigroup raised their target price on Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and decreased their price target for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Barclays increased their price target on Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, March 17th. Moffett Nathanson decreased their price target on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Finally, Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from $128.00 to $122.00 in a report on Friday, March 14th. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Price Performance

CCI stock opened at $106.61 on Friday. The company has a market capitalization of $46.42 billion, a P/E ratio of 37.81 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The business has a 50-day simple moving average of $92.77 and a two-hundred day simple moving average of $101.13.

Crown Castle Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 5.87%. Crown Castle’s dividend payout ratio (DPR) is currently -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.