Intech Investment Management LLC Purchases 9,288 Shares of Crown Castle Inc. (NYSE:CCI)

Intech Investment Management LLC grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 212.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 13,658 shares of the real estate investment trust’s stock after buying an additional 9,288 shares during the quarter. Intech Investment Management LLC’s holdings in Crown Castle were worth $1,240,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Accurate Wealth Management LLC lifted its position in shares of Crown Castle by 5.4% during the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 124 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Crown Castle by 12.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 126 shares during the period. IFP Advisors Inc raised its holdings in shares of Crown Castle by 5.9% in the 4th quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 133 shares during the period. Howard Capital Management Inc. raised its holdings in shares of Crown Castle by 1.2% in the 4th quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock worth $1,041,000 after purchasing an additional 135 shares during the period. Finally, Cidel Asset Management Inc. raised its holdings in shares of Crown Castle by 6.4% in the 4th quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust’s stock worth $207,000 after purchasing an additional 137 shares during the period. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target 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. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. UBS Group raised shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a report on Friday, March 14th. Raymond James raised shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and lowered their price target for the stock from $128.00 to $122.00 in a report on Friday, March 14th. Finally, Wolfe Research raised shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a report on Monday, March 17th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Crown Castle currently has an average rating of “Moderate Buy” and a consensus target price of $110.00.

Crown Castle Stock Up 1.9 %

CCI opened at $106.61 on Friday. The company has a fifty day moving average price of $92.77 and a 200-day moving average price of $101.13. The firm has a market capitalization of $46.42 billion, a P/E ratio of 37.81 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 5.87%. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

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.