Crown Castle Inc. (NYSE:CCI) Stock Position Raised by Tufton Capital Management

Tufton Capital Management lifted its position in Crown Castle Inc. (NYSE:CCI) by 0.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 64,239 shares of the real estate investment trust’s stock after acquiring an additional 235 shares during the quarter. Tufton Capital Management’s holdings in Crown Castle were worth $5,830,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CCI. AMF Tjanstepension AB lifted its position in shares of Crown Castle by 11.7% in the 3rd quarter. AMF Tjanstepension AB now owns 166,922 shares of the real estate investment trust’s stock valued at $19,835,000 after acquiring an additional 17,524 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Crown Castle by 3.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 18,667 shares of the real estate investment trust’s stock worth $2,214,000 after buying an additional 671 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in Crown Castle in the 3rd quarter worth approximately $205,000. Integrated Advisors Network LLC lifted its position in Crown Castle by 24.5% in the 3rd quarter. Integrated Advisors Network LLC now owns 5,027 shares of the real estate investment trust’s stock worth $596,000 after buying an additional 988 shares in the last quarter. Finally, SteelPeak Wealth LLC lifted its position in Crown Castle by 239.5% in the 3rd quarter. SteelPeak Wealth LLC now owns 10,840 shares of the real estate investment trust’s stock worth $1,286,000 after buying an additional 7,647 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI opened at $93.58 on Friday. The company’s fifty day moving average price is $89.69 and its 200 day moving average price is $102.55. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $40.67 billion, a PE ratio of 33.18 and a beta of 0.88.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. The ex-dividend date is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.69%. Crown Castle’s payout ratio is 221.99%.

Wall Street Analyst Weigh In

CCI has been the subject of a number of research analyst reports. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Moffett Nathanson cut their target price on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Citigroup dropped their price target on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Scotiabank dropped their price target on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and a consensus target price 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.