AGF Management Ltd. Buys 21,443 Shares of Crown Castle Inc. (NYSE:CCI)

AGF Management Ltd. grew its stake in Crown Castle Inc. (NYSE:CCI) by 448.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,229 shares of the real estate investment trust’s stock after buying an additional 21,443 shares during the quarter. AGF Management Ltd.’s holdings in Crown Castle were worth $2,381,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Versor Investments LP increased its holdings in Crown Castle by 120.0% in the 4th quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust’s stock worth $767,000 after acquiring an additional 4,608 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Crown Castle by 29.4% in the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after purchasing an additional 282,821 shares during the period. Oak Thistle LLC bought a new position in shares of Crown Castle in the fourth quarter worth approximately $1,231,000. Avanza Fonder AB purchased a new stake in shares of Crown Castle in the fourth quarter worth $3,083,000. Finally, Fisher Asset Management LLC raised its position in shares of Crown Castle by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after purchasing an additional 203,442 shares during the period. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the subject of several recent analyst reports. Moffett Nathanson dropped their target price on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft cut their target price 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 lowered their price target on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Finally, Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and cut their price objective for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $108.75.

Crown Castle Price Performance

Crown Castle stock opened at $94.92 on Friday. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm’s fifty day moving average is $90.74 and its 200 day moving average is $101.55. The company has a market cap of $41.25 billion, a price-to-earnings ratio of 33.66 and a beta of 0.89.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.59%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio is 221.99%.

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.