Applied Capital LLC FL Raises Stake in Crown Castle Inc. (NYSE:CCI)

Applied Capital LLC FL raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 10.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,214 shares of the real estate investment trust’s stock after buying an additional 1,151 shares during the quarter. Applied Capital LLC FL’s holdings in Crown Castle were worth $1,109,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CCI. Catalyst Capital Advisors LLC bought a new stake in Crown Castle during the 3rd quarter worth approximately $25,000. Rosenberg Matthew Hamilton grew its position in shares of 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 purchasing an additional 136 shares in the last quarter. FNY Investment Advisers LLC increased its holdings in shares of Crown Castle by 300.0% in the fourth 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. Harbor Capital Advisors Inc. purchased a new stake in shares of Crown Castle in the third quarter worth $47,000. Finally, Friedenthal Financial bought a new stake in Crown Castle during the third quarter valued at $50,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. Wells Fargo & Company lowered their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday. Citigroup set a $128.00 price target on shares of Crown Castle in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, UBS Group upped their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and a consensus target price of $109.80.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $88.49 on Friday. The stock has a market capitalization of $38.46 billion, a P/E ratio of 31.38 and a beta of 0.87. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. 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 business’s 50 day simple moving average is $95.29 and its two-hundred day simple moving average is $105.30.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 7.07%. Crown Castle’s dividend payout ratio is currently 221.99%.

About Crown Castle

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.