Crown Castle Inc. (NYSE:CCI) Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia boosted its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 12.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,312 shares of the real estate investment trust's stock after buying an additional 7,043 shares during the quarter. Bank of Nova Scotia's holdings in Crown Castle were worth $5,746,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. Twin Tree Management LP acquired a new stake in Crown Castle during the 4th quarter valued at approximately $25,000. FNY Investment Advisers LLC boosted its stake in shares of Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 300 shares during the last quarter. Roxbury Financial LLC purchased a new position in shares of Crown Castle during the 4th quarter valued at approximately $37,000. Marshall Investment Management LLC acquired a new stake in shares of Crown Castle during the fourth quarter worth approximately $50,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Crown Castle in the fourth quarter worth $53,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCI has been the subject of several recent analyst reports. BMO Capital Markets reissued a "market perform" rating on shares of Crown Castle in a report on Tuesday, March 25th. UBS Group upgraded Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price target for the company in a research note on Friday, March 14th. KeyCorp raised Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 price objective for the company in a report on Friday, March 14th. Wells Fargo & Company raised Crown Castle from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $85.00 to $105.00 in a report on Monday, March 17th. Finally, Bank of America began coverage on Crown Castle in a report on Thursday, March 20th. They issued a "neutral" rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Crown Castle currently has a consensus rating of "Hold" and a consensus target price of $109.88.

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Crown Castle Stock Performance

NYSE:CCI traded up $3.19 during mid-day trading on Monday, hitting $99.86. The stock had a trading volume of 2,927,815 shares, compared to its average volume of 2,922,237. 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 company has a 50 day simple moving average of $96.76 and a 200-day simple moving average of $98.99. The stock has a market capitalization of $43.48 billion, a price-to-earnings ratio of 35.41 and a beta of 0.93. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.27%. Crown Castle's dividend payout ratio (DPR) is presently -69.71%.

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.