Ontario Teachers Pension Plan Board Takes $1.09 Million Position in Crown Castle Inc. (NYSE:CCI)

Ontario Teachers Pension Plan Board purchased a new position in Crown Castle Inc. (NYSE:CCI) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 12,041 shares of the real estate investment trust’s stock, valued at approximately $1,093,000.

Other large investors also recently bought and sold shares of the company. Guggenheim Capital LLC grew its holdings in Crown Castle by 1.8% in the fourth quarter. Guggenheim Capital LLC now owns 79,395 shares of the real estate investment trust’s stock worth $7,206,000 after purchasing an additional 1,424 shares during the period. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of Crown Castle in the 4th quarter worth approximately $12,035,000. Canada Post Corp Registered Pension Plan bought a new position in Crown Castle during the 4th quarter valued at approximately $350,000. XTX Topco Ltd purchased a new position in Crown Castle during the fourth quarter valued at $424,000. Finally, Belpointe Asset Management LLC boosted its holdings in Crown Castle by 0.8% in the fourth quarter. Belpointe Asset Management LLC now owns 20,767 shares of the real estate investment trust’s stock worth $1,885,000 after acquiring an additional 174 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $100.52 on Wednesday. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a market capitalization of $43.77 billion, a price-to-earnings ratio of 35.65 and a beta of 0.93. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a 50 day moving average of $96.97 and a 200 day moving average of $99.00.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.23%. Crown Castle’s dividend payout ratio (DPR) is -69.71%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CCI. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and reduced their price target for the company from $128.00 to $122.00 in a report on Friday, March 14th. JPMorgan Chase & Co. decreased their target price on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $85.00 to $105.00 in a research note on Monday, March 17th. Argus raised shares of Crown Castle to a “hold” rating in a research report on Friday, March 21st. Finally, Bank of America began coverage on Crown Castle in a research report on Thursday, March 20th. They issued a “neutral” rating and a $110.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $109.88.

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.