Crown Castle Inc. (NYSE:CCI) Stake Raised by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 18.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,849,846 shares of the real estate investment trust's stock after buying an additional 3,321,249 shares during the quarter. Wellington Management Group LLP owned 4.79% of Crown Castle worth $1,892,332,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Intech Investment Management LLC acquired a new position in shares of Crown Castle during the third quarter worth $518,000. Townsquare Capital LLC increased its stake in Crown Castle by 25.9% during the 3rd quarter. Townsquare Capital LLC now owns 5,853 shares of the real estate investment trust's stock worth $694,000 after buying an additional 1,203 shares during the period. Captrust Financial Advisors lifted its holdings in Crown Castle by 21.5% in the 3rd quarter. Captrust Financial Advisors now owns 17,919 shares of the real estate investment trust's stock worth $2,126,000 after buying an additional 3,176 shares in the last quarter. Fred Alger Management LLC boosted its position in Crown Castle by 2.8% in the 3rd quarter. Fred Alger Management LLC now owns 41,329 shares of the real estate investment trust's stock valued at $4,903,000 after buying an additional 1,111 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Crown Castle by 86.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 560,000 shares of the real estate investment trust's stock valued at $66,433,000 after acquiring an additional 260,000 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCI has been the topic of several recent analyst reports. UBS Group upgraded Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price target on the stock in a research note on Friday, March 14th. Jefferies Financial Group lowered Crown Castle from a "buy" rating to a "hold" rating and cut their target price for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their price target on shares of Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Citizens Jmp raised shares of Crown Castle to a "strong-buy" rating in a report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Crown Castle from $116.00 to $96.00 and set a "hold" rating for the company in a research report on Thursday, January 23rd. 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $110.00.

Crown Castle Stock Performance

Shares of NYSE CCI traded down $6.17 during mid-day trading on Friday, hitting $100.89. The company had a trading volume of 4,772,543 shares, compared to its average volume of 2,879,700. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The stock has a market cap of $43.93 billion, a price-to-earnings ratio of 35.78 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm's 50 day simple moving average is $95.67 and its two-hundred day simple moving average is $100.24.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle's payout ratio is -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.