Stevens Capital Management LP Purchases Shares of 10,839 Crown Castle Inc. (NYSE:CCI)

Stevens Capital Management LP purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 10,839 shares of the real estate investment trust’s stock, valued at approximately $984,000.

A number of other hedge funds have also added to or reduced their stakes in CCI. Pathstone Holdings LLC boosted its stake in Crown Castle by 0.6% during the 3rd quarter. Pathstone Holdings LLC now owns 41,982 shares of the real estate investment trust’s stock valued at $4,980,000 after purchasing an additional 230 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in Crown Castle during the 3rd quarter valued at about $2,922,000. King Luther Capital Management Corp boosted its stake in Crown Castle by 7.9% during the 3rd quarter. King Luther Capital Management Corp now owns 6,043 shares of the real estate investment trust’s stock valued at $717,000 after purchasing an additional 441 shares during the last quarter. Intech Investment Management LLC acquired a new position in Crown Castle during the 3rd quarter valued at about $518,000. Finally, Great Valley Advisor Group Inc. acquired a new position in Crown Castle during the 3rd quarter valued at about $363,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CCI. JMP Securities began coverage on shares of Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 target price on the stock. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their target price for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Barclays lifted their target price on shares of Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, March 17th. Moffett Nathanson dropped their target price on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Finally, Bank of America began coverage on shares of Crown Castle in a research report on Thursday. They set a “neutral” rating and a $110.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Trading Up 1.9 %

Shares of CCI stock opened at $106.61 on Friday. The company’s fifty day simple moving average is $92.77 and its two-hundred day simple moving average is $101.13. The stock has a market capitalization of $46.42 billion, a price-to-earnings ratio of 37.81 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.87%. Crown Castle’s dividend payout ratio (DPR) is currently -69.71%.

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.