Bridges Investment Management Inc. Has $1.38 Million Stake in Crown Castle Inc. (NYSE:CCI)

Bridges Investment Management Inc. raised its stake in Crown Castle Inc. (NYSE:CCI) by 20.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,226 shares of the real estate investment trust’s stock after purchasing an additional 2,620 shares during the quarter. Bridges Investment Management Inc.’s holdings in Crown Castle were worth $1,382,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Nordea Investment Management AB grew its holdings in Crown Castle by 29.4% during the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after buying an additional 282,821 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Crown Castle by 24.7% in the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after acquiring an additional 31,319 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of Crown Castle in the fourth quarter valued at about $1,231,000. Versor Investments LP lifted its position in shares of Crown Castle by 120.0% during the fourth quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust’s stock valued at $767,000 after purchasing an additional 4,608 shares in the last quarter. Finally, Avanza Fonder AB purchased a new position in Crown Castle during the fourth quarter worth about $3,083,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CCI. JMP Securities began coverage on shares of Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective for the company. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Moffett Nathanson cut their price objective on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $117.00 to $104.00 in a research report on Monday, January 13th. Finally, Wells Fargo & Company cut their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $108.75.

Crown Castle Price Performance

CCI opened at $94.13 on Monday. The firm has a 50-day moving average price of $89.75 and a 200-day moving average price of $102.32. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a market capitalization of $40.91 billion, a price-to-earnings ratio of 33.38 and a beta of 0.88.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.565 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.65%. Crown Castle’s dividend payout ratio is 221.99%.

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.