Tokio Marine Asset Management Co. Ltd. Boosts Stock Position in Crown Castle Inc. (NYSE:CCI)

Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,701 shares of the real estate investment trust’s stock after acquiring an additional 587 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Crown Castle were worth $1,117,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Morgan Stanley grew its holdings in shares of Crown Castle by 8.9% in the 3rd quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock worth $1,203,648,000 after acquiring an additional 1,064,382 shares during the period. FMR LLC grew its stake in shares of Crown Castle by 14.3% during the third quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock valued at $1,098,526,000 after acquiring an additional 1,496,330 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Crown Castle by 21.9% during the third quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock valued at $932,682,000 after acquiring an additional 1,818,910 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Crown Castle by 42.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after acquiring an additional 2,121,603 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Crown Castle by 2.9% during the 3rd quarter. Legal & General Group Plc now owns 5,568,481 shares of the real estate investment trust’s stock valued at $512,467,000 after acquiring an additional 155,543 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research note on Monday. Wells Fargo & Company dropped their price objective on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Argus cut shares of Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Royal Bank of Canada upped their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 21st. Finally, Jefferies Financial Group decreased their price objective on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and an average price target of $113.29.

Crown Castle Price Performance

Shares of CCI stock traded up $0.86 during trading hours on Friday, reaching $95.07. 263,226 shares of the company were exchanged, compared to its average volume of 2,814,945. The stock’s fifty day moving average is $103.94 and its two-hundred day moving average is $105.25. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $123.79. The company has a market cap of $41.31 billion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 2.54 and a beta of 0.73. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the company earned $1.91 earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. Sell-side analysts forecast that Crown Castle Inc. will post 6.59 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.565 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.58%. Crown Castle’s dividend payout ratio is currently 195.63%.

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.