Grove Bank & Trust Acquires 147 Shares of Crown Castle Inc. (NYSE:CCI)

Grove Bank & Trust grew its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 8.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,903 shares of the real estate investment trust’s stock after acquiring an additional 147 shares during the period. Grove Bank & Trust’s holdings in Crown Castle were worth $173,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP grew its position 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 valued at $2,079,417,000 after buying an additional 3,371,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Crown Castle by 433.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after acquiring an additional 3,225,460 shares during the period. Bank of Montreal Can lifted its stake in shares of Crown Castle by 191.7% in the second quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock worth $195,183,000 after acquiring an additional 1,335,644 shares during the period. International Assets Investment Management LLC boosted its holdings in Crown Castle by 13,271.6% in the third quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock valued at $115,449,000 after acquiring an additional 965,907 shares during the last quarter. Finally, State Street Corp increased its position in Crown Castle by 3.7% during the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CCI shares. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their price target for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. The Goldman Sachs Group boosted their target price on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. JPMorgan Chase & Co. upped their target price on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company downgraded Crown Castle from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $105.00 to $100.00 in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.00.

Crown Castle Stock Up 0.4 %

Crown Castle stock opened at $91.03 on Monday. The firm has a market capitalization of $39.56 billion, a price-to-earnings ratio of 32.28 and a beta of 0.87. The firm’s fifty day moving average price is $96.66 and its two-hundred day moving average price is $105.61. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year 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.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.88%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

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.