Homestead Advisers Corp Grows Stake in Crown Castle Inc. (NYSE:CCI)

Homestead Advisers Corp grew its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 18.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 594,800 shares of the real estate investment trust’s stock after acquiring an additional 92,100 shares during the quarter. Homestead Advisers Corp’s holdings in Crown Castle were worth $53,984,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Twin Tree Management LP purchased a new position in Crown Castle during the 4th quarter valued at $25,000. FNY Investment Advisers LLC raised its stake in Crown Castle by 300.0% in the fourth 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 in the last quarter. Roxbury Financial LLC purchased a new stake in Crown Castle in the fourth quarter worth about $37,000. Marshall Investment Management LLC bought a new stake in Crown Castle during the 4th quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Crown Castle during the 4th quarter worth approximately $53,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCI has been the topic of several research reports. Barclays lifted their price target on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. BMO Capital Markets reissued a “market perform” rating on shares of Crown Castle in a research report on Tuesday. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and cut their price objective for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, KeyCorp raised Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price target on the stock in a research report on Friday, March 14th. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Price Performance

Shares of CCI opened at $101.04 on Thursday. The firm has a fifty day simple moving average of $93.71 and a two-hundred day simple moving average of $100.86. The firm has a market cap of $44.00 billion, a PE ratio of 35.83 and a beta of 0.89. 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 Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 6.20%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio is -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.