SG Americas Securities LLC Raises Stake in Crown Castle Inc. (NYSE:CCI)

SG Americas Securities LLC raised its position in Crown Castle Inc. (NYSE:CCI) by 3,607.1% during the fourth quarter, HoldingsChannel reports. The firm owned 194,585 shares of the real estate investment trust’s stock after buying an additional 189,336 shares during the quarter. SG Americas Securities LLC’s holdings in Crown Castle were worth $17,661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP increased its holdings in shares of Crown Castle by 23.8% in 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Crown Castle by 433.8% in 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 increased its stake in 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 valued at $115,449,000 after purchasing an additional 965,907 shares during the last quarter. State Street Corp raised its holdings in Crown Castle by 3.7% during 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. lifted 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 worth $375,610,000 after buying an additional 642,010 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Moffett Nathanson dropped their target price on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday. Citigroup set a $128.00 price target on Crown Castle in a research note on Thursday, October 17th. Wells Fargo & Company decreased their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday. Finally, Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $117.00 to $104.00 in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and a consensus target price of $109.80.

Crown Castle Price Performance

Shares of CCI opened at $88.62 on Friday. The firm has a market capitalization of $38.51 billion, a PE ratio of 31.43 and a beta of 0.87. The stock’s 50 day moving average is $95.88 and its two-hundred day moving average is $105.47. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

Crown Castle 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.