Crown Castle Inc. (NYSE:CCI) Position Raised by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 4.5% in the 4th quarter, Holdings Channel reports. The fund owned 204,237 shares of the real estate investment trust’s stock after buying an additional 8,800 shares during the period. Treasurer of the State of North Carolina’s holdings in Crown Castle were worth $18,537,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Crown Castle in the fourth quarter valued at approximately $561,714,000. Vanguard Group Inc. boosted its position in shares of Crown Castle by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock worth $5,672,451,000 after buying an additional 5,934,615 shares during the period. Wellington Management Group LLP grew its holdings 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 worth $1,892,332,000 after buying an additional 3,321,249 shares in the last quarter. National Bank of Canada FI increased its position in Crown Castle by 37.3% in the 4th 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 acquiring an additional 1,573,043 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Crown Castle during the 4th quarter valued at $95,167,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CCI shares. JMP Securities started coverage on Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target for the company. Wolfe Research upgraded shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 17th. Citigroup restated a “buy” rating on shares of Crown Castle in a research report on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Finally, Bank of America initiated coverage on Crown Castle in a report on Thursday, March 20th. They set a “neutral” rating and a $110.00 target price on the stock. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $109.88.

Crown Castle Trading Up 1.6 %

NYSE:CCI opened at $96.65 on Friday. The stock’s 50-day moving average is $96.56 and its two-hundred day moving average is $99.21. 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 stock has a market cap of $42.09 billion, a PE ratio of 34.27 and a beta of 0.93. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $1.565 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.48%. 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.