abrdn plc Has $113.97 Million Holdings in Crown Castle Inc. (NYSE:CCI)

abrdn plc raised its position in Crown Castle Inc. (NYSE:CCI) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,257,526 shares of the real estate investment trust’s stock after buying an additional 66,012 shares during the period. abrdn plc owned 0.29% of Crown Castle worth $113,970,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CCI. Nordea Investment Management AB lifted its position in shares of Crown Castle by 29.4% during the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after purchasing an additional 282,821 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Crown Castle by 24.7% during the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after purchasing an additional 31,319 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Crown Castle during the fourth quarter worth approximately $1,231,000. Avanza Fonder AB acquired a new position in shares of Crown Castle during the fourth quarter worth approximately $3,083,000. Finally, Fisher Asset Management LLC lifted its position in shares of Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after purchasing an additional 203,442 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on CCI. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their price target for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. Scotiabank lowered their target price on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research note on Thursday, January 23rd. JMP Securities started coverage on shares of Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price for the company. Finally, Citigroup set a $128.00 target price on shares of Crown Castle in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $110.13.

Crown Castle Stock Performance

Shares of CCI opened at $89.39 on Tuesday. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The firm has a fifty day simple moving average of $93.78 and a 200 day simple moving average of $104.91. The stock has a market capitalization of $38.85 billion, a price-to-earnings ratio of 31.70 and a beta of 0.88. 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 Dividend Announcement

The firm also recently announced 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. This represents a $6.26 annualized dividend and a yield of 7.00%. The ex-dividend date was Friday, December 13th. Crown Castle’s payout ratio is 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.