abrdn plc Has $113.97 Million Position in Crown Castle Inc. (NYSE:CCI)

abrdn plc grew its stake in Crown Castle Inc. (NYSE:CCI) by 5.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,257,526 shares of the real estate investment trust’s stock after buying an additional 66,012 shares during the quarter. abrdn plc’s holdings in Crown Castle were worth $113,970,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CCI. Catalyst Capital Advisors LLC acquired a new stake in shares of Crown Castle in the 3rd quarter valued at approximately $25,000. Rosenberg Matthew Hamilton boosted its position in Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 136 shares during the period. FNY Investment Advisers LLC boosted its position 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 worth $36,000 after buying an additional 300 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Crown Castle during the 3rd quarter worth approximately $47,000. Finally, Friedenthal Financial acquired a new stake in Crown Castle during the 3rd quarter worth approximately $50,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on CCI. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. JMP Securities started coverage on shares of Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 target price on the stock. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Scotiabank dropped their price target on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 23rd. Finally, UBS Group boosted their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average target price of $110.13.

Crown Castle Stock Performance

NYSE:CCI opened at $89.39 on Tuesday. The firm has a market capitalization of $38.85 billion, a P/E ratio of 31.70 and a beta of 0.88. The company has a fifty day moving average of $93.78 and a 200-day moving average of $104.91. 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 twelve month low of $84.20 and a twelve month high of $120.92.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 7.00%. The ex-dividend date was Friday, December 13th. Crown Castle’s payout ratio is presently 221.99%.

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.