8,831 Shares in Crown Castle Inc. (NYSE:CCI) Acquired by Polymer Capital Management US LLC

Polymer Capital Management US LLC acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 8,831 shares of the real estate investment trust’s stock, valued at approximately $802,000.

Several other institutional investors have also modified their holdings of the stock. Versor Investments LP lifted its position in Crown Castle by 120.0% in the fourth quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust’s stock valued at $767,000 after acquiring an additional 4,608 shares during the last quarter. Nordea Investment Management AB lifted its stake in Crown Castle by 29.4% in the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after buying an additional 282,821 shares during the last quarter. Oak Thistle LLC purchased a new position in shares of Crown Castle during the fourth quarter worth approximately $1,231,000. Avanza Fonder AB purchased a new stake in Crown Castle in the 4th quarter valued at $3,083,000. Finally, Citizens Business Bank acquired a new stake in Crown Castle during the 3rd quarter worth $620,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

NYSE:CCI opened at $100.89 on Monday. 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 firm has a market cap of $43.93 billion, a PE ratio of 35.78 and a beta of 0.93. The firm has a 50 day simple moving average of $95.67 and a 200-day simple moving average of $99.98. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s dividend payout ratio is presently -69.71%.

Analysts Set New Price Targets

CCI has been the subject of a number of research reports. Wolfe Research raised shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a report on Monday, March 17th. UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price on the stock in a report on Friday, March 14th. BMO Capital Markets reissued a “market perform” rating on shares of Crown Castle in a research note on Tuesday, March 25th. Scotiabank lowered their target price on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a report on Friday, March 14th. Finally, Bank of America initiated coverage on shares of Crown Castle in a research report on Thursday, March 20th. They issued a “neutral” rating and a $110.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $110.00.

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.