Vanguard Group Inc. Boosts Position in Crown Castle Inc. (NYSE:CCI)

Vanguard Group Inc. increased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 10.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,499,455 shares of the real estate investment trust’s stock after purchasing an additional 5,934,615 shares during the quarter. Vanguard Group Inc. owned approximately 14.38% of Crown Castle worth $5,672,451,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in Crown Castle by 23.8% during the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after buying an additional 3,371,186 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Crown Castle by 433.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after buying an additional 3,225,460 shares during the period. Raymond James Financial Inc. acquired a new position in Crown Castle during the fourth quarter worth approximately $95,167,000. State Street Corp increased its position in Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after buying an additional 747,390 shares during the period. Finally, Proficio Capital Partners LLC increased its position in Crown Castle by 9,471.0% during the fourth quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust’s stock worth $748,000 after buying an additional 739,779 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.9 %

CCI opened at $106.61 on Monday. The business’s fifty day moving average is $92.77 and its two-hundred day moving average is $101.04. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $46.42 billion, a price-to-earnings ratio of 37.81 and a beta of 0.89. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 5.87%. Crown Castle’s payout ratio is -69.71%.

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. cut their price target on Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. JMP Securities initiated coverage on Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target on the stock. Moffett Nathanson dropped their target price on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Bank of America initiated coverage on Crown Castle in a report on Thursday. They issued a “neutral” rating and a $110.00 target price on the stock. Finally, Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $85.00 to $105.00 in a report on Monday, March 17th. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

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.