Cibc World Market Inc. Purchases 144,357 Shares of Crown Castle Inc. (NYSE:CCI)

Cibc World Market Inc. grew its holdings in Crown Castle Inc. (NYSE:CCI) by 238.7% in the fourth quarter, HoldingsChannel reports. The fund owned 204,832 shares of the real estate investment trust’s stock after buying an additional 144,357 shares during the period. Cibc World Market Inc.’s holdings in Crown Castle were worth $18,591,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp grew its position in shares of Crown Castle by 3.7% during the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after buying an additional 3,371,186 shares during the period. Geode Capital Management LLC grew its position in Crown Castle by 1.3% during the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock worth $1,434,229,000 after buying an additional 151,990 shares in the last quarter. Barclays PLC increased its stake in Crown Castle by 7.2% during the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after acquiring an additional 348,296 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Crown Castle by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after acquiring an additional 203,442 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of CCI opened at $89.25 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market cap of $38.79 billion, a PE ratio of 31.65 and a beta of 0.87. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The business has a 50-day simple moving average of $94.11 and a two-hundred day simple moving average of $105.01.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 7.01%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CCI shares. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $117.00 to $104.00 in a report on Monday, January 13th. Citigroup set a $128.00 target price on shares of Crown Castle in a report on Thursday, October 17th. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their target price for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. JMP Securities started coverage on shares of Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target on the stock. Finally, TD Cowen lowered their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $110.13.

Crown Castle Profile

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.