OFI Invest Asset Management Invests $747,000 in Crown Castle Inc. (NYSE:CCI)

OFI Invest Asset Management acquired a new position in Crown Castle Inc. (NYSE:CCI) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 8,517 shares of the real estate investment trust’s stock, valued at approximately $747,000.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp grew its stake in shares of Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after purchasing an additional 747,390 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after purchasing an additional 3,371,186 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Crown Castle by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock worth $1,434,229,000 after purchasing an additional 151,990 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Crown Castle by 2.6% in the fourth quarter. Fisher Asset Management LLC now owns 5,218,431 shares of the real estate investment trust’s stock worth $473,625,000 after acquiring an additional 130,414 shares in the last quarter. Finally, Barclays PLC increased its position 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 in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

NYSE CCI opened at $97.78 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market capitalization of $42.49 billion, a PE ratio of 34.67 and a beta of 0.89. The company has a 50 day moving average price of $90.22 and a two-hundred day moving average price of $101.83. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Moffett Nathanson dropped their target price on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their target price for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Citigroup dropped their target price on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Wells Fargo & Company dropped their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $108.75.

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.