Centersquare Investment Management LLC Purchases 128,590 Shares of Crown Castle Inc. $CCI

Centersquare Investment Management LLC raised its position in Crown Castle Inc. (NYSE:CCI) by 232.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,950 shares of the real estate investment trust’s stock after purchasing an additional 128,590 shares during the period. Centersquare Investment Management LLC’s holdings in Crown Castle were worth $17,749,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Winnow Wealth LLC bought a new stake in Crown Castle during the second quarter valued at $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Crown Castle in the 2nd quarter valued at about $27,000. NewSquare Capital LLC boosted its position in shares of Crown Castle by 74.5% during the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares during the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Crown Castle by 47.8% during the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 98 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of Crown Castle in the third quarter worth approximately $29,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Trading Down 2.9%

Shares of NYSE:CCI opened at $86.03 on Thursday. The stock has a market capitalization of $37.52 billion, a P/E ratio of 85.18, a price-to-earnings-growth ratio of 0.45 and a beta of 0.96. The stock’s 50-day moving average price is $86.99 and its 200-day moving average price is $91.99. Crown Castle Inc. has a 12-month low of $77.01 and a 12-month high of $115.76.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $1.0625 dividend. The ex-dividend date is Friday, March 13th. This represents a $4.25 annualized dividend and a yield of 4.9%. Crown Castle’s payout ratio is presently 420.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Crown Castle from $110.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Jefferies Financial Group dropped their price objective on shares of Crown Castle from $90.00 to $84.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. New Street Research lowered shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a research report on Monday, January 5th. UBS Group lowered their price target on Crown Castle from $116.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Finally, KeyCorp dropped their price target on Crown Castle from $115.00 to $98.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Crown Castle currently has an average rating of “Moderate Buy” and a consensus price target of $100.02.

About Crown Castle

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.