Crown Castle Inc. (NYSE:CCI) Shares Purchased by AMF Tjanstepension AB

AMF Tjanstepension AB raised its position in shares of Crown Castle Inc. (NYSE:CCI) by 69.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 282,567 shares of the real estate investment trust’s stock after purchasing an additional 115,645 shares during the quarter. AMF Tjanstepension AB’s holdings in Crown Castle were worth $25,679,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Napa Wealth Management lifted its holdings in shares of Crown Castle by 4.6% in the third quarter. Napa Wealth Management now owns 2,765 shares of the real estate investment trust’s stock valued at $328,000 after purchasing an additional 122 shares in the last quarter. Accurate Wealth Management LLC lifted its holdings in shares of Crown Castle by 5.4% in the fourth quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 124 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Crown Castle by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 126 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Crown Castle by 5.9% in the fourth quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock valued at $216,000 after purchasing an additional 133 shares in the last quarter. Finally, Howard Capital Management Inc. lifted its holdings in shares of Crown Castle by 1.2% in the fourth quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock valued at $1,041,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the subject of a number of research analyst reports. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $117.00 to $104.00 in a report on Monday, January 13th. Citigroup cut their price objective on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft cut their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company cut their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. Finally, Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $108.75.

Crown Castle Trading Up 2.7 %

Crown Castle stock opened at $97.78 on Friday. 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 $42.49 billion, a price-to-earnings ratio of 34.67 and a beta of 0.89. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company’s fifty day moving average price is $90.22 and its two-hundred day moving average price is $101.94.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.40%. The ex-dividend date is Friday, March 14th. 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.