Pacer Advisors Inc. lowered its stake in shares of Crown Castle Inc. (NYSE:CCI – Free Report) by 12.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 217,613 shares of the real estate investment trust’s stock after selling 31,644 shares during the period. Pacer Advisors Inc.’s holdings in Crown Castle were worth $19,339,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Crown Castle by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 69,769,393 shares of the real estate investment trust’s stock worth $6,200,406,000 after acquiring an additional 386,733 shares during the last quarter. Cohen & Steers Inc. boosted its position in Crown Castle by 11.0% during the fourth quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust’s stock valued at $3,536,214,000 after purchasing an additional 3,953,685 shares during the last quarter. State Street Corp boosted its position in Crown Castle by 2.4% during the fourth quarter. State Street Corp now owns 22,239,559 shares of the real estate investment trust’s stock valued at $1,976,430,000 after purchasing an additional 511,018 shares during the last quarter. Wellington Management Group LLP grew its stake in Crown Castle by 2.8% in the fourth quarter. Wellington Management Group LLP now owns 13,986,852 shares of the real estate investment trust’s stock valued at $1,243,012,000 after purchasing an additional 380,419 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Crown Castle by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 13,027,749 shares of the real estate investment trust’s stock valued at $1,156,972,000 after purchasing an additional 184,533 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
Crown Castle Trading Down 0.0%
Shares of NYSE:CCI opened at $82.02 on Friday. The stock has a market capitalization of $35.80 billion, a PE ratio of 33.89, a P/E/G ratio of 0.42 and a beta of 0.93. Crown Castle Inc. has a 1 year low of $75.96 and a 1 year high of $115.76. The firm has a fifty day moving average price of $89.02 and a 200 day moving average price of $87.55.
Crown Castle Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.2%. Crown Castle’s dividend payout ratio is currently 175.62%.
Analyst Upgrades and Downgrades
CCI has been the topic of several research reports. KeyCorp upped their target price on Crown Castle from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Raymond James Financial lifted their price target on Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a report on Thursday, April 23rd. Wells Fargo & Company reissued an “equal weight” rating and issued a $85.00 price target (down from $90.00) on shares of Crown Castle in a research note on Monday, March 23rd. Barclays increased their price objective on Crown Castle from $91.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Finally, Wolfe Research lowered shares of Crown Castle from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.52.
View Our Latest Analysis on Crown Castle
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.
Read More
- Five stocks we like better than Crown Castle
- 3 Retail Winners Using Cash Flow to Stay Ahead
- 3 Tech ETFs That Could Bounce Back After the AI Selloff
- 3 Penny Stocks Under $5 Backed by Real Revenue Growth
- 3 Non-Pharma Firms That Could Benefit From the GLP-1 Trend
Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Castle Inc. (NYSE:CCI – Free Report).
Receive News & Ratings for Crown Castle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Castle and related companies with MarketBeat.com's FREE daily email newsletter.
