Parallel Advisors LLC Increases Stock Position in Crown Castle Inc. (NYSE:CCI)

Parallel Advisors LLC increased its position in Crown Castle Inc. (NYSE:CCI) by 3,827.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 183,965 shares of the real estate investment trust’s stock after buying an additional 179,281 shares during the quarter. Parallel Advisors LLC’s holdings in Crown Castle were worth $16,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new stake in Crown Castle during the fourth quarter worth approximately $25,000. FNY Investment Advisers LLC lifted its holdings in shares of 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 acquiring an additional 300 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Crown Castle during the 4th quarter worth $37,000. Investors Research Corp increased its holdings in Crown Castle by 57.2% in 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 purchased a new position in Crown Castle in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Up 8.5 %

NYSE:CCI opened at $103.20 on Monday. The company has a market cap of $44.85 billion, a PE ratio of 36.59 and a beta of 0.89. The business’s 50 day moving average is $91.00 and its two-hundred day moving average is $101.32. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.07%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CCI shares. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and decreased their target price for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $117.00 to $104.00 in a research report on Monday, January 13th. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company lowered their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. Finally, KeyCorp upgraded shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $109.12.

Crown Castle Company 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.