Healthcare of Ontario Pension Plan Trust Fund Acquires 120,022 Shares of Crown Castle Inc. $CCI

Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Crown Castle Inc. (NYSE:CCI) by 113.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 226,237 shares of the real estate investment trust’s stock after buying an additional 120,022 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.05% of Crown Castle worth $18,395,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its holdings in shares of Crown Castle by 51.5% in the 1st quarter. Renaissance Technologies LLC now owns 856,237 shares of the real estate investment trust’s stock valued at $69,621,000 after acquiring an additional 290,959 shares in the last quarter. Gabelli Funds LLC raised its holdings in Crown Castle by 2.3% during the first quarter. Gabelli Funds LLC now owns 36,105 shares of the real estate investment trust’s stock worth $2,936,000 after acquiring an additional 800 shares in the last quarter. Morningstar Investment Management LLC boosted its position in Crown Castle by 8.0% during the first quarter. Morningstar Investment Management LLC now owns 53,402 shares of the real estate investment trust’s stock valued at $4,342,000 after purchasing an additional 3,944 shares during the last quarter. Walleye Capital LLC boosted its position in Crown Castle by 47.2% during the first quarter. Walleye Capital LLC now owns 61,735 shares of the real estate investment trust’s stock valued at $5,020,000 after purchasing an additional 19,807 shares during the last quarter. Finally, Prestige Wealth Management Group LLC grew its stake in Crown Castle by 1,643.2% in the first quarter. Prestige Wealth Management Group LLC now owns 6,014 shares of the real estate investment trust’s stock valued at $489,000 after purchasing an additional 5,669 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Down 1.0%

Shares of NYSE CCI opened at $74.16 on Tuesday. The business’s 50 day moving average price is $84.07 and its two-hundred day moving average price is $85.63. The company has a market cap of $32.37 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95. Crown Castle Inc. has a twelve month low of $73.52 and a twelve month high of $112.75.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Monday, June 15th. Crown Castle’s payout ratio is currently 215.74%.

Wall Street Analyst Weigh In

CCI has been the topic of several recent analyst reports. KeyCorp boosted their price target on Crown Castle from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Scotiabank decreased their target price on shares of Crown Castle from $94.00 to $91.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 7th. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Citigroup reaffirmed a “market outperform” rating on shares of Crown Castle in a research report on Friday. Finally, The Goldman Sachs Group initiated coverage on shares of Crown Castle in a research report on Friday, June 26th. They set a “neutral” rating and a $95.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.92.

Crown Castle Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.