Swedbank AB Buys 343 Shares of Crown Castle Inc. (NYSE:CCI)

Swedbank AB lifted its position in Crown Castle Inc. (NYSE:CCI) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 248,493 shares of the real estate investment trust’s stock after acquiring an additional 343 shares during the period. Swedbank AB owned approximately 0.06% of Crown Castle worth $22,553,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Catalyst Capital Advisors LLC bought a new position in shares of Crown Castle during the third quarter worth $25,000. Rosenberg Matthew Hamilton raised its stake 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. Harbor Capital Advisors Inc. bought a new position in Crown Castle during the third quarter worth about $47,000. FNY Investment Advisers LLC lifted its holdings in Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 300 shares in the last quarter. Finally, Investors Research Corp increased its holdings in shares of Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 154 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $88.99 on Friday. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The stock has a 50 day moving average of $94.42 and a 200-day moving average of $105.12. 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 market capitalization of $38.67 billion, a P/E ratio of 31.56 and a beta of 0.87.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 7.03%. Crown Castle’s dividend payout ratio is currently 221.99%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CCI. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $117.00 to $104.00 in a research report on Monday, January 13th. Royal Bank of Canada upped their price target on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. UBS Group raised their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. JMP Securities started coverage on shares of Crown Castle in a research note on Monday. They issued an “outperform” rating and a $115.00 target price for the company. Finally, Wells Fargo & Company dropped their price target on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus price target of $110.13.

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.