Assenagon Asset Management S.A. Grows Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Assenagon Asset Management S.A. lifted its holdings in Crown Castle Inc. (NYSE:CCI) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,102 shares of the real estate investment trust’s stock after acquiring an additional 435 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Crown Castle were worth $1,734,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Catalyst Capital Advisors LLC purchased a new position in shares of Crown Castle during the 3rd quarter valued at approximately $25,000. Rosenberg Matthew Hamilton grew its position in Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 136 shares during the period. FNY Investment Advisers LLC increased its holdings in Crown Castle by 300.0% in the fourth 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 in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Crown Castle in the third quarter worth about $47,000. Finally, Friedenthal Financial acquired a new position in shares of Crown Castle in the third quarter worth about $50,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. TD Cowen lowered their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft decreased their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday. UBS Group boosted their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Scotiabank decreased their price objective on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company cut their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Crown Castle currently has a consensus rating of “Hold” and a consensus price target of $109.80.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $88.62 on Friday. The firm has a market capitalization of $38.51 billion, a P/E ratio of 31.43 and a beta of 0.87. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The firm’s 50 day moving average is $95.88 and its two-hundred day moving average is $105.47.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

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.