Caisse Des Depots ET Consignations Takes Position in Crown Castle Inc. (NYSE:CCI)

Caisse Des Depots ET Consignations purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 24,106 shares of the real estate investment trust’s stock, valued at approximately $2,188,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Homestead Advisers Corp raised its holdings in Crown Castle by 18.3% in the 4th quarter. Homestead Advisers Corp now owns 594,800 shares of the real estate investment trust’s stock valued at $53,984,000 after buying an additional 92,100 shares during the last quarter. NEOS Investment Management LLC raised its stake in shares of Crown Castle by 31.5% during the fourth quarter. NEOS Investment Management LLC now owns 25,998 shares of the real estate investment trust’s stock valued at $2,360,000 after acquiring an additional 6,222 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Crown Castle by 6.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 685,116 shares of the real estate investment trust’s stock worth $61,654,000 after purchasing an additional 40,790 shares during the period. Korea Investment CORP grew its stake in shares of Crown Castle by 71.1% in the fourth quarter. Korea Investment CORP now owns 296,457 shares of the real estate investment trust’s stock worth $26,906,000 after purchasing an additional 123,198 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its position in Crown Castle by 7.2% during the 4th quarter. Prestige Wealth Management Group LLC now owns 6,248 shares of the real estate investment trust’s stock worth $567,000 after purchasing an additional 419 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $102.61 on Friday. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The stock’s 50 day moving average is $93.95 and its 200-day moving average is $100.88. 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 firm has a market capitalization of $44.68 billion, a price-to-earnings ratio of 36.38 and a beta of 0.89.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.10%. Crown Castle’s payout ratio is -69.71%.

Wall Street Analysts Forecast Growth

CCI has been the subject of several recent research reports. Wolfe Research raised Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday, March 17th. Bank of America began coverage on shares of Crown Castle in a research report on Thursday, March 20th. They set a “neutral” rating and a $110.00 target price for the company. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Barclays increased their price objective on shares of Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, March 17th. Finally, JMP Securities initiated coverage on shares of Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price on the stock. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.00.

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.