Norinchukin Bank The Increases Holdings in Crown Castle Inc. (NYSE:CCI)

Norinchukin Bank The raised its stake in Crown Castle Inc. (NYSE:CCI) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,076 shares of the real estate investment trust’s stock after buying an additional 1,922 shares during the quarter. Norinchukin Bank The’s holdings in Crown Castle were worth $1,822,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Twin Tree Management LP acquired a new position in Crown Castle in the 4th quarter valued at about $25,000. FNY Investment Advisers LLC lifted its holdings in Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 300 shares during the last quarter. Roxbury Financial LLC acquired a new position in Crown Castle in the fourth quarter valued at approximately $37,000. Marshall Investment Management LLC purchased a new position in Crown Castle in the fourth quarter worth approximately $50,000. Finally, Bank of Jackson Hole Trust acquired a new stake in Crown Castle during the fourth quarter worth $53,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 2.2 %

CCI stock opened at $103.51 on Monday. 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 Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The firm has a market capitalization of $45.07 billion, a PE ratio of 36.71 and a beta of 0.93. The company’s 50 day simple moving average is $97.73 and its 200-day simple moving average is $98.57.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s payout ratio is currently -69.71%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CCI. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Bank of America started 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 on the stock in a research note on Thursday, January 23rd. Raymond James upgraded 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 research note on Friday, March 14th. Finally, StockNews.com raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $109.88.

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.