Amundi grew its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,958,084 shares of the real estate investment trust's stock after buying an additional 39,371 shares during the period. Amundi owned 0.45% of Crown Castle worth $159,212,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Wiser Advisor Group LLC purchased a new position in Crown Castle in the 3rd quarter worth approximately $29,000. Hilton Head Capital Partners LLC grew its holdings in Crown Castle by 55.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 134 shares in the last quarter. Triumph Capital Management bought a new stake in shares of Crown Castle during the third quarter valued at approximately $31,000. Global Assets Advisory LLC bought a new stake in shares of Crown Castle during the first quarter valued at approximately $32,000. Finally, Salomon & Ludwin LLC lifted its holdings in shares of Crown Castle by 128.7% in the fourth quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust's stock worth $34,000 after buying an additional 215 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.
Crown Castle Stock Performance
Shares of NYSE:CCI opened at $76.43 on Friday. The firm's 50 day simple moving average is $82.85 and its 200-day simple moving average is $85.41. Crown Castle Inc. has a one year low of $73.52 and a one year high of $112.75. The firm has a market cap of $33.36 billion, a PE ratio of 38.80, a price-to-earnings-growth ratio of 0.41 and a beta of 0.95.
Crown Castle Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 5.6%. The ex-dividend date was Monday, June 15th. Crown Castle's dividend payout ratio (DPR) is presently 215.74%.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Scotiabank cut their price objective on Crown Castle from $94.00 to $91.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 7th. Barclays increased their price target on Crown Castle from $91.00 to $92.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Citizens Jmp cut their price target on Crown Castle from $125.00 to $120.00 and set a "market outperform" rating for the company in a report on Friday, July 24th. BMO Capital Markets reduced their price objective on Crown Castle from $100.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, July 20th. Finally, Truist Financial decreased their price objective on Crown Castle from $95.00 to $87.00 and set a "hold" rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $95.13.
Check Out Our Latest Stock Report on CCI
Crown Castle Company Profile
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Free Report)
Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company's assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.
Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.
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