Swedbank AB Has $22.55 Million Position in Crown Castle Inc. (NYSE:CCI)

Swedbank AB raised its position in Crown Castle Inc. (NYSE:CCI) by 0.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 248,493 shares of the real estate investment trust’s stock after purchasing an additional 343 shares during the period. Swedbank AB’s holdings in Crown Castle were worth $22,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in CCI. NewEdge Advisors LLC boosted its holdings in Crown Castle by 2.1% in the 2nd quarter. NewEdge Advisors LLC now owns 17,879 shares of the real estate investment trust’s stock valued at $1,747,000 after purchasing an additional 372 shares during the period. Sunbelt Securities Inc. boosted its stake in shares of Crown Castle by 47.7% in the second quarter. Sunbelt Securities Inc. now owns 3,368 shares of the real estate investment trust’s stock valued at $329,000 after buying an additional 1,087 shares during the period. New Century Financial Group LLC acquired a new stake in Crown Castle during the second quarter worth approximately $247,000. Clearbridge Investments LLC increased its stake in Crown Castle by 9.8% during the 2nd quarter. Clearbridge Investments LLC now owns 3,335 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 297 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in Crown Castle in the 2nd quarter valued at $11,229,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of CCI opened at $88.99 on Friday. The business has a 50-day moving average of $94.42 and a 200-day moving average of $105.12. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $38.67 billion, a price-to-earnings ratio of 31.56 and a beta of 0.87. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle Announces Dividend

The company 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. The ex-dividend date was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 7.03%. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CCI. UBS Group raised their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their target price for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. JMP Securities started coverage on shares of Crown Castle in a research report on Monday. They set an “outperform” rating and a $115.00 price target on the stock. Scotiabank lowered their price target on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a report on Thursday, January 23rd. Finally, Citigroup set a $128.00 price objective on shares of Crown Castle in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $110.13.

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.