Crown Castle Inc. (NYSE:CCI) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 106,912 shares of the real estate investment trust’s stock after purchasing an additional 1,349 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Crown Castle were worth $9,703,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FNY Investment Advisers LLC grew its stake in shares of Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 300 shares during the period. Roxbury Financial LLC acquired a new position in shares of Crown Castle during the 4th quarter worth $37,000. Investors Research Corp grew its stake in shares of Crown Castle by 57.2% during the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 154 shares during the period. Marshall Investment Management LLC acquired a new position in shares of Crown Castle during the 4th quarter worth $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Crown Castle during the 4th quarter worth $53,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CCI shares. Citigroup upped their price target on shares of Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday. Scotiabank lowered their price objective on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a research note on Friday. JMP Securities initiated coverage on shares of Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. Moffett Nathanson lowered their price objective on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their price objective for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $109.12.

Crown Castle Price Performance

NYSE:CCI opened at $103.20 on Friday. The firm has a market cap of $44.85 billion, a price-to-earnings ratio of 36.59 and a beta of 0.89. 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 company’s 50-day moving average is $91.00 and its two-hundred day moving average is $101.49. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.07%. Crown Castle’s payout ratio is currently 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.