3,687 Shares in Crown Castle Inc. (NYSE:CCI) Acquired by Allianz SE

Allianz SE purchased a new stake in Crown Castle Inc. (NYSE:CCI) during the fourth quarter, Holdings Channel reports. The firm purchased 3,687 shares of the real estate investment trust’s stock, valued at approximately $331,000.

Several other hedge funds have also recently bought and sold shares of the stock. Twin Tree Management LP acquired a new stake in shares of Crown Castle in the 4th quarter valued at $25,000. FNY Investment Advisers LLC lifted its holdings in Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. Roxbury Financial LLC acquired a new position in Crown Castle in the fourth quarter valued at about $37,000. Marshall Investment Management LLC bought a new stake in Crown Castle during the fourth quarter worth about $50,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Crown Castle during the fourth quarter worth approximately $53,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCI has been the topic of several recent analyst reports. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. JMP Securities assumed coverage on Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. Moffett Nathanson lowered their target price on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Bank of America began coverage on shares of Crown Castle in a research report on Thursday, March 20th. They set a “neutral” rating and a $110.00 price target on the stock. Finally, Wolfe Research upgraded shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 17th. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Price Performance

Shares of CCI opened at $103.61 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market cap of $45.11 billion, a P/E ratio of 36.74 and a beta of 0.89. The stock’s 50-day moving average price is $94.20 and its two-hundred day moving average price is $100.51. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle Dividend Announcement

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 paid a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.04%. The ex-dividend date is Friday, March 14th. Crown Castle’s payout ratio 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.