Grove Bank & Trust Grows Stake in Crown Castle Inc. (NYSE:CCI)

Grove Bank & Trust boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 8.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,903 shares of the real estate investment trust’s stock after acquiring an additional 147 shares during the quarter. Grove Bank & Trust’s holdings in Crown Castle were worth $173,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CCI. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle during the third quarter valued at about $25,000. Rosenberg Matthew Hamilton boosted its position in Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 136 shares during the period. FNY Investment Advisers LLC grew its holdings 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 worth $36,000 after acquiring an additional 300 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Crown Castle in the third quarter valued at about $47,000. Finally, Friedenthal Financial bought a new position in shares of Crown Castle during the third quarter valued at about $50,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Citigroup set a $128.00 target price on Crown Castle in a research note on Thursday, October 17th. Wells Fargo & Company cut Crown Castle from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $105.00 to $100.00 in a research note on Tuesday, December 10th. TD Cowen dropped their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada boosted their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Finally, The Goldman Sachs Group raised their target price on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $113.00.

Crown Castle Stock Up 0.4 %

CCI stock opened at $91.03 on Monday. The business has a 50 day moving average of $96.66 and a 200 day moving average of $105.61. The firm has a market cap of $39.56 billion, a PE ratio of 32.28 and a beta of 0.87. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.88%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

Crown Castle Company 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.