Intact Investment Management Inc. Has $10.62 Million Holdings in Crown Castle Inc. (NYSE:CCI)

Intact Investment Management Inc. lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,000 shares of the real estate investment trust’s stock after purchasing an additional 6,900 shares during the quarter. Intact Investment Management Inc.’s holdings in Crown Castle were worth $10,619,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Versor Investments LP boosted its stake in Crown Castle by 120.0% in the 4th quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust’s stock valued at $767,000 after buying an additional 4,608 shares in the last quarter. Nordea Investment Management AB boosted its stake in Crown Castle by 29.4% in the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after buying an additional 282,821 shares in the last quarter. Oak Thistle LLC acquired a new stake in Crown Castle in the 4th quarter valued at $1,231,000. Avanza Fonder AB acquired a new stake in Crown Castle in the 4th quarter valued at $3,083,000. Finally, Fisher Asset Management LLC boosted its stake 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 buying an additional 203,442 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the topic of several recent analyst reports. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and decreased their price target for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. JMP Securities began coverage on Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target on the stock. Moffett Nathanson reduced their price objective on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Citigroup reduced their price objective on Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, Scotiabank reduced their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $108.75.

Crown Castle Trading Down 0.4 %

CCI stock opened at $94.92 on Friday. The company has a market cap of $41.25 billion, a P/E ratio of 33.66 and a beta of 0.89. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. 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 business has a fifty day moving average of $90.74 and a 200-day moving average of $101.55.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 6.59%. Crown Castle’s payout ratio is currently 221.99%.

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.