Ontario Teachers Pension Plan Board Makes New Investment in Crown Castle Inc. (NYSE:CCI)

Ontario Teachers Pension Plan Board acquired a new stake in shares of Crown Castle Inc. (NYSE:CCI) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 12,041 shares of the real estate investment trust’s stock, valued at approximately $1,093,000.

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

Crown Castle Stock Up 0.7 %

Shares of NYSE CCI opened at $100.52 on Wednesday. The firm has a fifty day simple moving average of $96.97 and a two-hundred day simple moving average of $99.00. Crown Castle Inc. has a 12 month low of $84.20 and a 12 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. The firm has a market capitalization of $43.77 billion, a PE ratio of 35.65 and a beta of 0.93.

Crown Castle Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wolfe Research raised shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday, March 17th. UBS Group upgraded shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target for the company in a research report on Friday, March 14th. Barclays lifted their price objective on Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, March 17th. BMO Capital Markets restated a “market perform” rating on shares of Crown Castle in a report on Tuesday, March 25th. Finally, Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $109.88.

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.