Crown Castle Inc. (NYSE:CCI) Shares Bought by Hengehold Capital Management LLC

Hengehold Capital Management LLC lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,053 shares of the real estate investment trust’s stock after purchasing an additional 679 shares during the quarter. Hengehold Capital Management LLC’s holdings in Crown Castle were worth $2,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp grew its holdings in Crown Castle by 3.7% in 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 buying an additional 747,390 shares during the period. Wellington Management Group LLP grew its holdings in Crown Castle by 23.8% in the third 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 purchasing an additional 3,371,186 shares during the period. Geode Capital Management LLC grew its holdings in Crown Castle by 1.3% in the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after purchasing an additional 151,990 shares during the period. Legal & General Group Plc increased its position in Crown Castle by 1.1% during the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock worth $603,518,000 after purchasing an additional 67,072 shares during the last quarter. Finally, Barclays PLC raised its stake in Crown Castle by 7.2% during the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after purchasing an additional 348,296 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. TD Cowen lowered their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday. The Goldman Sachs Group raised their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Royal Bank of Canada boosted their target price on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $117.00 to $104.00 in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $109.80.

Crown Castle Price Performance

CCI stock opened at $88.62 on Friday. The stock’s 50 day moving average is $95.88 and its two-hundred day moving average is $105.47. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The company has a market capitalization of $38.51 billion, a PE ratio of 31.43 and a beta of 0.87. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $1.565 dividend. The ex-dividend date was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 7.06%. 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.