Slagle Financial LLC Buys 1,670 Shares of Crown Castle Inc. (NYSE:CCI)

Slagle Financial LLC boosted its position in Crown Castle Inc. (NYSE:CCI) by 6.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 26,577 shares of the real estate investment trust’s stock after purchasing an additional 1,670 shares during the period. Slagle Financial LLC’s holdings in Crown Castle were worth $2,412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its position in shares of Crown Castle by 0.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 129,846 shares of the real estate investment trust’s stock valued at $11,785,000 after acquiring an additional 724 shares during the period. Providence Capital Advisors LLC boosted its holdings in Crown Castle by 0.7% in the 4th quarter. Providence Capital Advisors LLC now owns 22,668 shares of the real estate investment trust’s stock valued at $2,057,000 after purchasing an additional 150 shares during the period. Norges Bank bought a new position in Crown Castle in the 4th quarter worth about $561,714,000. Caisse Des Depots ET Consignations bought a new stake in Crown Castle during the fourth quarter valued at approximately $2,188,000. Finally, Homestead Advisers Corp increased its stake in Crown Castle by 18.3% in the fourth quarter. Homestead Advisers Corp now owns 594,800 shares of the real estate investment trust’s stock valued at $53,984,000 after acquiring an additional 92,100 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CCI shares. JPMorgan Chase & Co. reduced their target price on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Barclays increased their price target on shares of Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, March 17th. UBS Group upgraded Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target for the company in a report on Friday, March 14th. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and dropped their price objective for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Finally, Moffett Nathanson reduced their price objective on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.00.

Crown Castle Stock Up 1.5 %

Shares of NYSE:CCI opened at $102.61 on Friday. The company has a market cap of $44.68 billion, a price-to-earnings ratio of 36.38 and a beta of 0.89. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a 50-day moving average price of $93.95 and a 200 day moving average price of $100.88.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is -69.71%.

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.