The Manufacturers Life Insurance Company Purchases 58,903 Shares of Crown Castle Inc. (NYSE:CCI)

The Manufacturers Life Insurance Company lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,144,359 shares of the real estate investment trust’s stock after purchasing an additional 58,903 shares during the period. The Manufacturers Life Insurance Company’s holdings in Crown Castle were worth $557,662,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Accurate Wealth Management LLC grew its holdings in Crown Castle by 5.4% during the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 124 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Crown Castle by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 126 shares during the period. IFP Advisors Inc increased its holdings in Crown Castle by 5.9% in the fourth quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock valued at $216,000 after purchasing an additional 133 shares during the period. Howard Capital Management Inc. lifted its holdings in Crown Castle by 1.2% during the 4th quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock worth $1,041,000 after buying an additional 135 shares during the period. Finally, Cidel Asset Management Inc. lifted its holdings in Crown Castle by 6.4% during the 4th quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 137 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Down 0.6 %

NYSE:CCI opened at $100.18 on Monday. The firm’s 50 day moving average is $99.02 and its 200 day moving average is $98.25. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The stock has a market capitalization of $43.62 billion, a PE ratio of 35.52 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.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is currently -69.71%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $85.00 to $105.00 in a report 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 objective for the company in a research report on Friday, March 14th. JMP Securities began coverage on shares of Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price on the stock. Finally, Wolfe Research raised Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 17th. Twelve investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Crown Castle currently has an average rating of “Moderate Buy” and an average price target of $110.47.

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.