Mediolanum International Funds Ltd Raises Position in Crown Castle Inc. (NYSE:CCI)

Mediolanum International Funds Ltd lifted its stake in Crown Castle Inc. (NYSE:CCI) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,590 shares of the real estate investment trust’s stock after purchasing an additional 921 shares during the period. Mediolanum International Funds Ltd’s holdings in Crown Castle were worth $3,904,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CCI. Wellington Management Group LLP grew its stake in shares of Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after acquiring an additional 3,371,186 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Crown Castle by 433.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock valued at $470,838,000 after purchasing an additional 3,225,460 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Crown Castle by 13,271.6% in the third quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock worth $115,449,000 after purchasing an additional 965,907 shares during the period. State Street Corp increased its stake 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 in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Crown Castle by 25.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock valued at $375,610,000 after purchasing an additional 642,010 shares during the period. 90.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CCI shares. TD Cowen decreased their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada lifted their target price on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and dropped their price target for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. Citigroup set a $128.00 price objective on shares of Crown Castle in a research report on Thursday, October 17th. Finally, Wells Fargo & Company dropped their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $110.13.

Crown Castle Stock Up 0.2 %

NYSE CCI opened at $89.25 on Friday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The firm has a market capitalization of $38.79 billion, a price-to-earnings ratio of 31.65 and a beta of 0.87. 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 fifty day moving average of $93.78 and a two-hundred day moving average of $104.91.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is currently 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.