Retirement Planning Co of New England Inc. Increases Position in Crown Castle Inc. (NYSE:CCI)

Retirement Planning Co of New England Inc. increased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 44.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,107 shares of the real estate investment trust’s stock after buying an additional 1,870 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in Crown Castle were worth $554,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CCI. GSA Capital Partners LLP purchased a new stake in shares of Crown Castle during the third quarter valued at $522,000. CIBC Asset Management Inc boosted its holdings in Crown Castle by 8.0% in the third quarter. CIBC Asset Management Inc now owns 64,047 shares of the real estate investment trust’s stock valued at $7,598,000 after purchasing an additional 4,737 shares during the last quarter. Empowered Funds LLC boosted its holdings in Crown Castle by 13.5% in the third quarter. Empowered Funds LLC now owns 12,842 shares of the real estate investment trust’s stock valued at $1,523,000 after purchasing an additional 1,531 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Crown Castle by 15.0% in the third quarter. Natixis Advisors LLC now owns 391,514 shares of the real estate investment trust’s stock valued at $46,445,000 after purchasing an additional 51,006 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Crown Castle by 0.3% in the third quarter. Swiss National Bank now owns 1,289,700 shares of the real estate investment trust’s stock valued at $152,997,000 after purchasing an additional 3,300 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

Crown Castle stock opened at $102.91 on Tuesday. The firm has a 50 day simple moving average of $91.29 and a 200-day simple moving average of $101.26. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market cap of $44.73 billion, a price-to-earnings ratio of 36.49 and a beta of 0.89.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.08%. Crown Castle’s payout ratio is currently -69.71%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays upped their price target on shares of Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Monday. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Wells Fargo & Company raised shares of Crown Castle from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $85.00 to $105.00 in a research note on Monday. Finally, Raymond James raised shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and lowered their target price for the stock from $128.00 to $122.00 in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.29.

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.