Strs Ohio Buys 13,098 Shares of Crown Castle Inc. (NYSE:CCI)

Strs Ohio raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 7.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 183,887 shares of the real estate investment trust’s stock after purchasing an additional 13,098 shares during the period. Strs Ohio’s holdings in Crown Castle were worth $21,181,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CCI. Norges Bank bought a new position in shares of Crown Castle in the fourth quarter worth about $642,077,000. Moneta Group Investment Advisors LLC boosted its stake in shares of Crown Castle by 90,084.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,487,430 shares of the real estate investment trust’s stock worth $473,035,000 after acquiring an additional 3,483,563 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Crown Castle by 42.8% in the third quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock worth $651,910,000 after acquiring an additional 2,121,603 shares during the period. Barclays PLC boosted its stake in shares of Crown Castle by 217.9% in the third quarter. Barclays PLC now owns 3,058,133 shares of the real estate investment trust’s stock worth $281,439,000 after acquiring an additional 2,096,272 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Crown Castle by 21.9% in the third quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock worth $932,682,000 after acquiring an additional 1,818,910 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 1.1 %

Shares of CCI stock opened at $95.62 on Tuesday. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $134.09. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.40 and a quick ratio of 0.40. The stock’s 50 day simple moving average is $105.96 and its two-hundred day simple moving average is $105.22. The company has a market cap of $41.55 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 2.57 and a beta of 0.73.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $1.565 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.55%. Crown Castle’s dividend payout ratio (DPR) is presently 180.92%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CCI shares. Royal Bank of Canada upped their price objective on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 21st. BMO Capital Markets raised Crown Castle from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $107.00 to $110.00 in a research note on Friday, January 19th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $118.93.

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.