Treasurer of the State of North Carolina Increases Holdings in Crown Castle Inc. (NYSE:CCI)

Treasurer of the State of North Carolina boosted its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 4.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 204,237 shares of the real estate investment trust's stock after acquiring an additional 8,800 shares during the quarter. Treasurer of the State of North Carolina's holdings in Crown Castle were worth $18,537,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Crown Castle by 10.5% in the fourth 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 in the last quarter. Wellington Management Group LLP boosted its position in Crown Castle by 18.9% in the 4th quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust's stock valued at $1,892,332,000 after buying an additional 3,321,249 shares during the period. Geode Capital Management LLC boosted its position in Crown Castle by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust's stock valued at $1,119,225,000 after buying an additional 228,007 shares during the period. Norges Bank acquired a new position in shares of Crown Castle in the fourth quarter worth $561,714,000. Finally, National Bank of Canada FI boosted its holdings in Crown Castle by 37.3% in the fourth 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 purchasing an additional 1,573,043 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CCI shares. Wolfe Research upgraded shares of Crown Castle from an "underperform" rating to a "peer perform" rating in a research note on Monday, March 17th. BMO Capital Markets reiterated a "market perform" rating on shares of Crown Castle in a research note on Tuesday, March 25th. Citizens Jmp upgraded Crown Castle to a "strong-buy" rating in a research note on Monday, January 27th. Moffett Nathanson lowered their price objective on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Crown Castle from $116.00 to $96.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Crown Castle has a consensus rating of "Hold" and an average target price of $109.88.

Crown Castle Stock Performance

Crown Castle stock traded up $3.19 during trading hours on Monday, reaching $99.86. 2,927,815 shares of the stock were exchanged, compared to its average volume of 2,922,238. The stock has a market cap of $43.48 billion, a P/E ratio of 35.41 and a beta of 0.93. The firm's 50 day moving average is $96.76 and its 200 day moving average is $98.99. 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 Inc. has a 52-week low of $84.20 and a 52-week high of $120.92.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.27%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle's dividend payout ratio is presently -69.71%.

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.