Commerzbank Aktiengesellschaft FI Acquires 4,836 Shares of Crown Castle Inc. (NYSE:CCI)

Commerzbank Aktiengesellschaft FI increased its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 17.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,843 shares of the real estate investment trust's stock after purchasing an additional 4,836 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Crown Castle were worth $2,949,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. State Street Corp boosted its stake in shares of Crown Castle by 3.7% during 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 buying an additional 747,390 shares during the last quarter. Wellington Management Group LLP grew its stake in Crown Castle by 23.8% in the third 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Crown Castle by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust's stock worth $1,434,229,000 after purchasing an additional 151,990 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Crown Castle by 2.6% in the fourth quarter. Fisher Asset Management LLC now owns 5,218,431 shares of the real estate investment trust's stock valued at $473,625,000 after buying an additional 130,414 shares in the last quarter. Finally, Barclays PLC raised its position in Crown Castle by 7.2% during the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust's stock worth $613,900,000 after acquiring an additional 348,296 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CCI shares. Moffett Nathanson lowered their price objective on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Citigroup lowered their price target on Crown Castle from $128.00 to $106.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. JMP Securities started coverage on Crown Castle in a research note on Monday, January 27th. They issued an "outperform" rating and a $115.00 price target on the stock. Barclays upgraded shares of Crown Castle from an "equal weight" rating to an "overweight" rating and cut their price objective for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Finally, Scotiabank dropped their price target on Crown Castle from $118.00 to $102.00 and set a "sector perform" rating for the company in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $108.75.

Crown Castle Price Performance

CCI stock traded down $0.95 during mid-day trading on Thursday, hitting $93.68. The stock had a trading volume of 320,135 shares, compared to its average volume of 2,520,602. The firm has a fifty day simple moving average of $90.00 and a 200 day simple moving average of $102.07. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week 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. The firm has a market capitalization of $40.71 billion, a P/E ratio of 33.24 and a beta of 0.88.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.68%. Crown Castle's dividend payout ratio is currently 221.99%.

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.