KLP Kapitalforvaltning AS Makes New $13.51 Million Investment in Crown Castle Inc. (NYSE:CCI)

KLP Kapitalforvaltning AS purchased a new position in shares of Crown Castle Inc. (NYSE:CCI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 148,879 shares of the real estate investment trust’s stock, valued at approximately $13,512,000.

Several other institutional investors and hedge funds have also modified their holdings of CCI. Twin Tree Management LP acquired a new position in shares of Crown Castle in the 4th quarter valued at about $25,000. FNY Investment Advisers LLC lifted its holdings in shares of Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 300 shares during the period. Roxbury Financial LLC acquired a new position in shares of Crown Castle in the 4th quarter valued at about $37,000. Marshall Investment Management LLC acquired a new position in shares of Crown Castle in the 4th quarter valued at about $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Crown Castle in the 4th quarter valued at about $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

CCI stock opened at $106.61 on Monday. 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 business has a 50 day simple moving average of $92.77 and a 200-day simple moving average of $101.04. The firm has a market capitalization of $46.42 billion, a PE ratio of 37.81 and a beta of 0.89. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle Dividend Announcement

The business 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 $1.565 dividend. The ex-dividend date 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 presently -69.71%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays boosted their price objective on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, March 17th. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Scotiabank cut their price target on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a research note on Friday, March 14th. Deutsche Bank Aktiengesellschaft cut their price target on 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, JPMorgan Chase & Co. cut their price target on Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research note 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.00.

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.