Sumitomo Mitsui Trust Holdings Inc. Increases Stock Position in Crown Castle Inc. (NYSE:CCI)

Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Crown Castle Inc. (NYSE:CCI) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 923,261 shares of the real estate investment trust’s stock after purchasing an additional 670 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Crown Castle were worth $106,350,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Morgan Stanley raised its position in Crown Castle by 8.9% during the third quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after purchasing an additional 1,064,382 shares during the period. FMR LLC raised its position in Crown Castle by 14.3% during the third quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock valued at $1,098,526,000 after purchasing an additional 1,496,330 shares during the period. Wellington Management Group LLP raised its position in Crown Castle by 21.9% during the third quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock valued at $932,682,000 after purchasing an additional 1,818,910 shares during the period. Geode Capital Management LLC raised its position in Crown Castle by 1.3% during the first quarter. Geode Capital Management LLC now owns 9,046,249 shares of the real estate investment trust’s stock valued at $1,208,030,000 after purchasing an additional 118,306 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Crown Castle by 42.8% during the third quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after purchasing an additional 2,121,603 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Royal Bank of Canada upped their price objective on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. BMO Capital Markets upgraded Crown Castle from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $107.00 to $110.00 in a report on Friday, January 19th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $118.93.

Crown Castle Trading Down 1.8 %

Shares of NYSE CCI opened at $93.93 on Wednesday. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $134.09. The company has a market cap of $40.81 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 2.54 and a beta of 0.73. The business’s 50 day moving average price is $105.69 and its 200-day moving average price is $105.23. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.40 and a current ratio of 0.40.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $1.565 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.66%. Crown Castle’s dividend payout ratio (DPR) is currently 180.92%.

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.