Chase Investment Counsel Corp Acquires Shares of 2,831 Crown Castle Inc. (NYSE:CCI)

Chase Investment Counsel Corp bought a new stake in Crown Castle Inc. (NYSE:CCI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,831 shares of the real estate investment trust’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Nordea Investment Management AB increased its stake in Crown Castle by 29.4% in the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after purchasing an additional 282,821 shares during the period. Van ECK Associates Corp raised its stake in Crown Castle by 24.7% during the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after acquiring an additional 31,319 shares during the last quarter. Oak Thistle LLC acquired a new stake in Crown Castle during the 4th quarter worth approximately $1,231,000. Avanza Fonder AB purchased a new position in shares of Crown Castle in the 4th quarter valued at approximately $3,083,000. Finally, Fisher Asset Management LLC increased its holdings in shares of Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after purchasing an additional 203,442 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 0.7 %

Shares of NYSE CCI opened at $94.13 on Friday. The firm has a market cap of $40.91 billion, a P/E ratio of 33.38 and a beta of 0.88. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The firm’s 50 day moving average price is $89.75 and its 200 day moving average price is $102.43.

Crown Castle Announces Dividend

The firm 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 dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.65%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Analyst Ratings Changes

Several brokerages recently weighed in on CCI. Citigroup decreased their price target on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $117.00 to $104.00 in a report on Monday, January 13th. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company lowered their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $108.75.

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.