Anchor Capital Advisors LLC Has $28.99 Million Holdings in Crown Castle Inc. (NYSE:CCI)

Anchor Capital Advisors LLC decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 2.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 319,413 shares of the real estate investment trust’s stock after selling 8,835 shares during the period. Anchor Capital Advisors LLC’s holdings in Crown Castle were worth $28,990,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp grew its position in Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after buying an additional 3,371,186 shares during the period. Geode Capital Management LLC grew its holdings in shares of Crown Castle by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after acquiring an additional 151,990 shares in the last quarter. Barclays PLC increased its stake in shares of Crown Castle by 7.2% in the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after acquiring an additional 348,296 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Crown Castle by 4.2% in 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 acquiring an additional 203,442 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $117.00 to $104.00 in a research note on Monday, January 13th. Citigroup lowered their price target on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company dropped their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Jefferies Financial Group lowered 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $108.75.

Crown Castle Stock Up 2.1 %

Crown Castle stock opened at $93.58 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. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The firm has a fifty day moving average price of $89.69 and a two-hundred day moving average price of $102.55. The firm has a market cap of $40.67 billion, a price-to-earnings ratio of 33.18 and a beta of 0.88.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.69%. Crown Castle’s dividend payout ratio is presently 221.99%.

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.