Polymer Capital Management US LLC Takes Position in Crown Castle Inc. (NYSE:CCI)

Polymer Capital Management US LLC purchased a new stake in Crown Castle Inc. (NYSE:CCI) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,831 shares of the real estate investment trust’s stock, valued at approximately $802,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Twin Tree Management LP acquired a new stake in Crown Castle in the 4th quarter worth about $25,000. FNY Investment Advisers LLC raised its stake in 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 purchasing an additional 300 shares during the last quarter. Roxbury Financial LLC acquired a new stake in Crown Castle during the 4th quarter worth $37,000. Marshall Investment Management LLC purchased a new stake in shares of Crown Castle during the fourth quarter worth $50,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Crown Castle in the fourth quarter valued at about $53,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CCI has been the subject of a number of recent research reports. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and cut their price objective for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $85.00 to $105.00 in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. BMO Capital Markets reiterated a “market perform” rating on shares of Crown Castle in a report on Tuesday, March 25th. Finally, Barclays raised their price objective on Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, March 17th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $110.00.

Crown Castle Stock Down 5.8 %

Crown Castle stock opened at $100.89 on Monday. The firm has a market capitalization of $43.93 billion, a P/E ratio of 35.78 and a beta of 0.93. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The stock’s fifty day simple moving average is $95.67 and its 200-day simple moving average is $99.98.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s dividend payout ratio is currently -69.71%.

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.