13,456 Shares in Crown Castle Inc. (NYSE:CCI) Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new position in shares of Crown Castle Inc. (NYSE:CCI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,456 shares of the real estate investment trust’s stock, valued at approximately $1,221,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCI. Wellington Management Group LLP increased its holdings in shares of Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after acquiring an additional 3,371,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Crown Castle by 433.8% during 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 worth $470,838,000 after purchasing an additional 3,225,460 shares during the period. State Street Corp increased its holdings in shares of Crown Castle by 3.7% in the third 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 purchasing an additional 747,390 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Crown Castle by 25.4% in the third quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock valued at $375,610,000 after purchasing an additional 642,010 shares during the period. Finally, Mizuho Markets Americas LLC lifted its stake in shares of Crown Castle by 70.0% during the 3rd quarter. Mizuho Markets Americas LLC now owns 850,000 shares of the real estate investment trust’s stock worth $100,836,000 after buying an additional 350,000 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 1.9 %

Shares of CCI opened at $91.58 on Thursday. 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 firm has a market cap of $39.80 billion, a price-to-earnings ratio of 32.48 and a beta of 0.88. The business’s fifty day moving average is $89.63 and its 200-day moving average is $102.61.

Crown Castle Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 6.84%. Crown Castle’s payout ratio is 221.99%.

Analysts Set New Price Targets

CCI has been the topic of several research analyst reports. Scotiabank lowered their price target on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday, January 23rd. Moffett Nathanson dropped their price target on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Citigroup reduced their price target on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Finally, JMP Securities assumed coverage on shares of Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus target price of $108.75.

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.