Royal London Asset Management Ltd. Reduces Holdings in Crown Castle Inc. (NYSE:CCI)

Royal London Asset Management Ltd. lowered its position in shares of Crown Castle Inc. (NYSE:CCI) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 202,254 shares of the real estate investment trust’s stock after selling 447 shares during the period. Royal London Asset Management Ltd.’s holdings in Crown Castle were worth $18,357,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Twin Tree Management LP purchased a new stake in shares of Crown Castle during the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC raised its holdings in 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 valued at $36,000 after acquiring an additional 300 shares in the last quarter. Roxbury Financial LLC acquired a new stake in Crown Castle in the fourth quarter valued at $37,000. Investors Research Corp raised its holdings in Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 154 shares in the last quarter. Finally, Marshall Investment Management LLC acquired a new stake in Crown Castle in the fourth quarter valued at $50,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wolfe Research raised shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a report on Monday, March 17th. Barclays upped their price target on shares of Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, March 17th. Citigroup upped their price target on shares of Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a report on Friday, March 14th. UBS Group raised shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a report on Friday, March 14th. Finally, Bank of America began coverage on shares of Crown Castle in a report on Thursday. They issued a “neutral” rating and a $110.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Stock Up 1.9 %

Crown Castle stock opened at $106.61 on Friday. The company has a 50-day simple moving average of $92.77 and a 200-day simple moving average of $101.21. The firm has a market capitalization of $46.33 billion, a P/E ratio of 37.81 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 5.87%. Crown Castle’s dividend payout ratio is presently -69.71%.

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.