Canada Post Corp Registered Pension Plan Invests $350,000 in Crown Castle Inc. (NYSE:CCI)

Canada Post Corp Registered Pension Plan purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,859 shares of the real estate investment trust's stock, valued at approximately $350,000.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Crown Castle by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust's stock valued at $5,672,451,000 after purchasing an additional 5,934,615 shares during the last quarter. Wellington Management Group LLP grew its holdings in Crown Castle by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust's stock worth $1,892,332,000 after buying an additional 3,321,249 shares in the last quarter. Geode Capital Management LLC grew its holdings in Crown Castle by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust's stock worth $1,119,225,000 after buying an additional 228,007 shares in the last quarter. Norges Bank purchased a new stake in Crown Castle in the 4th quarter valued at $561,714,000. Finally, National Bank of Canada FI lifted its stake in Crown Castle by 37.3% during the 4th quarter. National Bank of Canada FI now owns 5,793,842 shares of the real estate investment trust's stock valued at $525,849,000 after acquiring an additional 1,573,043 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CCI. Barclays increased their target price on shares of Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a report on Monday, March 17th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Crown Castle from $116.00 to $96.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. Wolfe Research upgraded Crown Castle from an "underperform" rating to a "peer perform" rating in a research note on Monday, March 17th. Citizens Jmp raised Crown Castle to a "strong-buy" rating in a research report on Monday, January 27th. Finally, JMP Securities assumed coverage on Crown Castle in a research report on Monday, January 27th. They issued an "outperform" rating and a $115.00 price objective on the stock. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $109.88.

Crown Castle Stock Performance

Crown Castle stock traded down $0.73 during mid-day trading on Monday, reaching $102.86. The company's stock had a trading volume of 439,732 shares, compared to its average volume of 2,879,216. The company has a market capitalization of $44.79 billion, a P/E ratio of 36.48 and a beta of 0.93. The firm's fifty day moving average price is $97.73 and its two-hundred day moving average price is $98.57. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.09%. Crown Castle's dividend payout ratio is currently -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.