Fisher Asset Management LLC Boosts Stake in Crown Castle Inc. (NYSE:CCI)

Fisher Asset Management LLC lifted its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,218,431 shares of the real estate investment trust's stock after purchasing an additional 130,414 shares during the period. Fisher Asset Management LLC owned 1.20% of Crown Castle worth $473,625,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CCI. State Street Corp increased its holdings in 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 in the last quarter. Wellington Management Group LLP boosted its position in shares of 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 worth $2,079,417,000 after purchasing an additional 3,371,186 shares during the period. Geode Capital Management LLC increased its stake in shares of Crown Castle by 1.3% in the third 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 in the last quarter. Barclays PLC raised its position in shares of Crown Castle by 7.2% during the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust's stock valued at $613,900,000 after purchasing an additional 348,296 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Crown Castle by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,002,934 shares of the real estate investment trust's stock valued at $593,498,000 after buying an additional 237,730 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Up 1.7 %

NYSE CCI traded up $1.63 during trading hours on Monday, hitting $95.73. 1,081,312 shares of the company were exchanged, compared to its average volume of 2,527,564. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a 50-day moving average price of $89.75 and a 200 day moving average price of $102.32. The stock has a market cap of $41.60 billion, a PE ratio of 33.94 and a beta of 0.88.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued 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 6.54%. Crown Castle's payout ratio is presently 221.99%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CCI. Jefferies Financial Group lowered Crown Castle from a "buy" rating to a "hold" rating and cut their price target for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft cut their target price on Crown Castle from $116.00 to $96.00 and set a "hold" rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company lowered their price target on Crown Castle from $100.00 to $85.00 and set an "underweight" rating on the stock in a report on Thursday, January 23rd. Citigroup dropped their price target on Crown Castle from $128.00 to $106.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Scotiabank reduced their price objective on shares of Crown Castle from $118.00 to $102.00 and set a "sector perform" rating on the stock in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Crown Castle presently has an average rating of "Hold" and a consensus target price of $108.75.

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.