Geode Capital Management LLC Grows Stake in Crown Castle Inc. (NYSE:CCI)

Geode Capital Management LLC raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,333,158 shares of the real estate investment trust’s stock after purchasing an additional 228,007 shares during the period. Geode Capital Management LLC’s holdings in Crown Castle were worth $1,119,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Twin Tree Management LP bought a new stake in Crown Castle in the fourth quarter worth $25,000. FNY Investment Advisers LLC boosted its stake in shares of 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 period. Roxbury Financial LLC purchased a new stake in Crown Castle in the 4th quarter worth about $37,000. Marshall Investment Management LLC bought a new stake in Crown Castle in the fourth quarter worth about $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Crown Castle during the fourth quarter valued at approximately $53,000. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CCI. Barclays upped their price target on shares of Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, March 17th. Moffett Nathanson reduced their price target on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. JMP Securities initiated coverage on shares of Crown Castle in a research note on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Finally, Citigroup upped their target price on Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $110.00.

Crown Castle Stock Performance

Shares of CCI stock opened at $104.57 on Wednesday. The company has a market capitalization of $45.53 billion, a P/E ratio of 37.08 and a beta of 0.89. The business’s 50 day moving average is $94.75 and its two-hundred day moving average is $100.30. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given 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 5.99%. Crown Castle’s dividend payout ratio (DPR) is -69.71%.

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.