Candriam S.C.A. Raises Stake in Crown Castle Inc. (NYSE:CCI)

Candriam S.C.A. raised its position in shares of Crown Castle Inc. (NYSE:CCI) by 23.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,981 shares of the real estate investment trust’s stock after purchasing an additional 8,581 shares during the quarter. Candriam S.C.A.’s holdings in Crown Castle were worth $4,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in Crown Castle during the 3rd quarter valued at about $47,000. FNY Investment Advisers LLC increased its stake in Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 300 shares in the last quarter. Roxbury Financial LLC bought a new stake in Crown Castle during the 4th quarter valued at about $37,000. Investors Research Corp increased its stake in Crown Castle by 57.2% during the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 154 shares in the last quarter. Finally, Marshall Investment Management LLC bought a new stake in Crown Castle during the 4th quarter valued at about $50,000. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Performance

CCI opened at $97.78 on Friday. 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 Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The company has a market cap of $42.49 billion, a price-to-earnings ratio of 34.67 and a beta of 0.89. The company’s 50 day moving average is $90.22 and its 200 day moving average is $101.88.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.40%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio is currently 221.99%.

Analyst Ratings Changes

CCI has been the subject of a number of analyst reports. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their price target for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. 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 price target for the company. Citigroup reduced their price target on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $108.75.

About Crown Castle

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.