Mizuho Securities USA LLC Acquires 13,011 Shares of Crown Castle Inc. (NYSE:CCI)

Mizuho Securities USA LLC boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 46.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,190 shares of the real estate investment trust’s stock after buying an additional 13,011 shares during the quarter. Mizuho Securities USA LLC’s holdings in Crown Castle were worth $3,738,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CCI. King Luther Capital Management Corp increased its position in Crown Castle by 7.9% during the 3rd quarter. King Luther Capital Management Corp now owns 6,043 shares of the real estate investment trust’s stock valued at $717,000 after purchasing an additional 441 shares during the period. Intech Investment Management LLC acquired a new stake in Crown Castle during the 3rd quarter valued at approximately $518,000. Great Valley Advisor Group Inc. acquired a new stake in Crown Castle during the 3rd quarter valued at approximately $363,000. Cerity Partners LLC increased its position in Crown Castle by 31.2% during the 3rd quarter. Cerity Partners LLC now owns 76,343 shares of the real estate investment trust’s stock valued at $9,057,000 after purchasing an additional 18,176 shares during the period. Finally, Pitcairn Co. increased its position in Crown Castle by 8.8% during the 3rd quarter. Pitcairn Co. now owns 3,814 shares of the real estate investment trust’s stock valued at $452,000 after purchasing an additional 308 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $106.61 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock’s fifty day simple moving average is $92.77 and its two-hundred day simple moving average is $101.04. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The stock has a market cap of $46.42 billion, a PE ratio of 37.81 and a beta of 0.89.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.87%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CCI shares. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and decreased their target price for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Wolfe Research raised shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 17th. Wells Fargo & Company raised shares of Crown Castle from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $85.00 to $105.00 in a research report on Monday, March 17th. Finally, Scotiabank reduced their price objective on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a research report on Friday, March 14th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $110.00.

Crown Castle Company 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.