Fisher Asset Management LLC Acquires 130,414 Shares of Crown Castle Inc. (NYSE:CCI)

Fisher Asset Management LLC grew its holdings in Crown Castle Inc. (NYSE:CCI) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,218,431 shares of the real estate investment trust’s stock after purchasing an additional 130,414 shares during the period. Fisher Asset Management LLC’s holdings in Crown Castle were worth $473,625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CCI. Catalyst Capital Advisors LLC purchased a new position in Crown Castle in the 3rd quarter worth about $25,000. Rosenberg Matthew Hamilton increased its position in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 136 shares during the period. FNY Investment Advisers LLC increased its position in shares of 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 during the period. Roxbury Financial LLC bought a new stake in shares of Crown Castle during the fourth quarter valued at approximately $37,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Crown Castle in the third quarter valued at approximately $47,000. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Price Performance

Shares of CCI opened at $94.13 on Friday. The company has a 50 day moving average of $89.75 and a two-hundred day moving average of $102.43. 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 Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a market cap of $40.91 billion, a price-to-earnings ratio of 33.38 and a beta of 0.88.

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 paid a dividend of $1.565 per share. The ex-dividend date 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 221.99%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Scotiabank reduced their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday, January 23rd. Moffett Nathanson cut their price target on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. JMP Securities initiated coverage on shares of Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective for the company. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $108.75.

Crown Castle Company 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.