Crown Castle Inc. (NYSE:CCI) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp raised its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 141.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 419,998 shares of the real estate investment trust's stock after purchasing an additional 246,183 shares during the quarter. Cibc World Markets Corp owned about 0.10% of Crown Castle worth $38,119,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CCI. Wellington Management Group LLP boosted its holdings in Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust's stock valued at $2,079,417,000 after purchasing an additional 3,371,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Crown Castle by 433.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust's stock worth $470,838,000 after acquiring an additional 3,225,460 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Crown Castle in the 4th quarter worth approximately $95,167,000. State Street Corp lifted its holdings in shares of Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust's stock worth $2,476,470,000 after acquiring an additional 747,390 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Crown Castle by 9,471.0% in the 4th quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust's stock worth $748,000 after acquiring an additional 739,779 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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Crown Castle Stock Down 0.8 %

Shares of CCI traded down $0.83 during midday trading on Wednesday, reaching $104.11. 929,580 shares of the company were exchanged, compared to its average volume of 2,588,790. The stock has a 50-day moving average price of $91.64 and a 200-day moving average price of $101.21. The company has a market cap of $45.25 billion, a price-to-earnings ratio of 36.91 and a beta of 0.89. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Announces Dividend

The firm 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. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.01%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle's payout ratio is -69.71%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Raymond James raised shares of Crown Castle from an "outperform" rating to a "strong-buy" rating and dropped their target price for the company from $128.00 to $122.00 in a research report on Friday, March 14th. Barclays raised their price target on Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a report on Monday. Wolfe Research raised Crown Castle from an "underperform" rating to a "peer perform" rating in a report on Monday. KeyCorp raised Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 price target for the company in a report on Friday, March 14th. Finally, Scotiabank reduced their price target on Crown Castle from $102.00 to $99.00 and set a "sector perform" rating for the company in a report on Friday, March 14th. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.29.

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.