CANADA LIFE ASSURANCE Co Acquires 5,997 Shares of Crown Castle Inc. (NYSE:CCI)

CANADA LIFE ASSURANCE Co increased its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 616,259 shares of the real estate investment trust's stock after purchasing an additional 5,997 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.14% of Crown Castle worth $55,892,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Twin Tree Management LP bought a new position in Crown Castle during the fourth quarter worth about $25,000. FNY Investment Advisers LLC lifted its position 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 worth $36,000 after buying an additional 300 shares during the period. Roxbury Financial LLC acquired a new stake in Crown Castle in the 4th quarter valued at $37,000. Marshall Investment Management LLC bought a new stake in Crown Castle in the fourth quarter valued at $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in Crown Castle during the fourth quarter worth $53,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CCI shares. Bank of America assumed 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. Wells Fargo & Company upgraded Crown Castle from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $85.00 to $105.00 in a research note on Monday, March 17th. Wolfe Research raised shares of Crown Castle from an "underperform" rating to a "peer perform" rating in a report on Monday, March 17th. UBS Group raised Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price objective on the stock in a report on Friday, March 14th. Finally, 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 note on Monday, March 17th. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $110.47.

Crown Castle Stock Down 3.3 %

Shares of CCI traded down $3.43 on Wednesday, hitting $100.94. The company's stock had a trading volume of 1,006,076 shares, compared to its average volume of 2,876,751. The firm's fifty day moving average price is $98.26 and its 200-day moving average price is $98.55. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week 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 firm has a market capitalization of $43.95 billion, a price-to-earnings ratio of 35.79 and a beta of 0.93.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors 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 6.20%. Crown Castle's payout ratio is -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.