Caisse Des Depots ET Consignations Buys New Position in Crown Castle Inc. (NYSE:CCI)

Caisse Des Depots ET Consignations purchased a new stake in Crown Castle Inc. (NYSE:CCI) in the fourth quarter, Holdings Channel.com reports. The fund purchased 24,106 shares of the real estate investment trust’s stock, valued at approximately $2,188,000.

Several other large investors have also bought and sold shares of the stock. Homestead Advisers Corp grew its stake in shares of Crown Castle by 18.3% in the 4th quarter. Homestead Advisers Corp now owns 594,800 shares of the real estate investment trust’s stock worth $53,984,000 after acquiring an additional 92,100 shares in the last quarter. NEOS Investment Management LLC boosted its holdings in Crown Castle by 31.5% during the fourth quarter. NEOS Investment Management LLC now owns 25,998 shares of the real estate investment trust’s stock worth $2,360,000 after purchasing an additional 6,222 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Crown Castle by 6.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 685,116 shares of the real estate investment trust’s stock worth $61,654,000 after purchasing an additional 40,790 shares in the last quarter. Korea Investment CORP increased its stake in Crown Castle by 71.1% in the 4th quarter. Korea Investment CORP now owns 296,457 shares of the real estate investment trust’s stock valued at $26,906,000 after buying an additional 123,198 shares during the last quarter. Finally, Prestige Wealth Management Group LLC lifted its position in shares of Crown Castle by 7.2% during the 4th quarter. Prestige Wealth Management Group LLC now owns 6,248 shares of the real estate investment trust’s stock worth $567,000 after buying an additional 419 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CCI has been the subject of a number of research analyst reports. Bank of America began coverage on Crown Castle in a research report on Thursday, March 20th. They set a “neutral” rating and a $110.00 price target for the company. 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 report on Thursday, January 23rd. Raymond James raised shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and cut their price target for the stock from $128.00 to $122.00 in a 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 objective for the company in a report on Friday, March 14th. Finally, Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.00.

Crown Castle Price Performance

Crown Castle stock opened at $102.61 on Friday. The firm has a market capitalization of $44.68 billion, a P/E ratio of 36.38 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 company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The business has a fifty day moving average price of $93.95 and a 200-day moving average price of $100.88.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date is Friday, March 14th. Crown Castle’s payout ratio is presently -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.