Cibc World Markets Corp Boosts Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Cibc World Markets Corp boosted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 141.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 419,998 shares of the real estate investment trust’s stock after acquiring an additional 246,183 shares during the quarter. Cibc World Markets Corp owned 0.10% of Crown Castle worth $38,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of CCI. State Street Corp grew its holdings in shares of Crown Castle by 3.7% in the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after purchasing an additional 747,390 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after purchasing an additional 3,371,186 shares during the last quarter. Geode Capital Management LLC grew its holdings in Crown Castle by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock worth $1,434,229,000 after acquiring an additional 151,990 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Crown Castle by 2.6% in the 4th quarter. Fisher Asset Management LLC now owns 5,218,431 shares of the real estate investment trust’s stock worth $473,625,000 after acquiring an additional 130,414 shares during the last quarter. Finally, Barclays PLC grew its holdings in Crown Castle by 7.2% in the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after acquiring an additional 348,296 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCI has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. UBS Group upgraded shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a report on Friday. Scotiabank cut their price target on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Finally, Citigroup lifted their price objective on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Crown Castle currently has an average rating of “Moderate Buy” and a consensus price target of $109.12.

Crown Castle Trading Up 8.5 %

Shares of NYSE:CCI opened at $103.20 on Monday. The company has a market cap of $44.85 billion, a P/E ratio of 36.59 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. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The stock’s fifty day moving average price is $91.00 and its 200-day moving average price is $101.32.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.07%. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

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.