Vanguard Group Inc. lifted its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 10.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,499,455 shares of the real estate investment trust's stock after purchasing an additional 5,934,615 shares during the quarter. Vanguard Group Inc. owned 14.38% of Crown Castle worth $5,672,451,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP increased 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 buying an additional 3,371,186 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $470,838,000 after purchasing an additional 3,225,460 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Crown Castle in the 4th quarter valued at $95,167,000. State Street Corp raised its holdings 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 in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of Crown Castle by 9,471.0% during the 4th quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust's stock worth $748,000 after buying an additional 739,779 shares during the last quarter. Institutional investors own 90.77% of the company's stock.
Crown Castle Trading Up 1.0 %
Shares of NYSE:CCI traded up $1.02 during mid-day trading on Friday, hitting $103.61. The company had a trading volume of 2,689,742 shares, compared to its average volume of 2,856,642. The company has a market capitalization of $45.11 billion, a PE ratio of 36.74 and a beta of 0.89. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The firm has a fifty day moving average price of $94.20 and a 200 day moving average price of $100.78. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.
Crown Castle Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle's payout ratio is -69.71%.
Analyst Ratings Changes
A number of research analysts have recently commented on CCI shares. Raymond James raised shares of Crown Castle from an "outperform" rating to a "strong-buy" rating and dropped their target price for the stock from $128.00 to $122.00 in a report on Friday, March 14th. KeyCorp upgraded shares of Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 target price on the stock in a research report on Friday, March 14th. UBS Group upgraded shares of Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price target for the company in a report on Friday, March 14th. Barclays raised their price objective on Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a report on Monday, March 17th. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Crown Castle in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $110.00.
Read Our Latest Stock Analysis on CCI
Crown Castle Company Profile
(
Free Report)
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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