Crown Castle Inc. (NYSE:CCI) Holdings Increased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,144,359 shares of the real estate investment trust's stock after acquiring an additional 58,903 shares during the period. The Manufacturers Life Insurance Company owned approximately 1.41% of Crown Castle worth $557,662,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CCI. Norges Bank acquired a new position in shares of Crown Castle during the 4th quarter valued at $561,714,000. Vanguard Group Inc. grew its holdings in Crown Castle by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust's stock worth $5,672,451,000 after acquiring an additional 5,934,615 shares during the period. Wellington Management Group LLP raised its position in Crown Castle by 18.9% in 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 acquiring an additional 3,321,249 shares in the last quarter. National Bank of Canada FI lifted its holdings in Crown Castle by 37.3% in 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 during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Crown Castle during the 4th quarter valued at about $95,167,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analyst Weigh In

CCI has been the subject of several recent research reports. Wells Fargo & Company raised shares of Crown Castle from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $85.00 to $105.00 in a research note on Monday, March 17th. Barclays increased their price objective on Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Wolfe Research upgraded Crown Castle from an "underperform" rating to a "peer perform" rating in a report on Monday, March 17th. Citizens Jmp raised Crown Castle to a "strong-buy" rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. dropped 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 equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $110.47.

Crown Castle Stock Down 0.6 %

Shares of NYSE CCI opened at $100.18 on Monday. The stock has a 50-day moving average price of $99.02 and a two-hundred day moving average price of $98.25. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month 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 company has a market cap of $43.62 billion, a price-to-earnings ratio of 35.52 and a beta of 0.93.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.25%. The ex-dividend date was Friday, March 14th. 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.

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