Commerzbank Aktiengesellschaft FI Purchases 4,836 Shares of Crown Castle Inc. (NYSE:CCI)

Commerzbank Aktiengesellschaft FI grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 17.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 32,843 shares of the real estate investment trust’s stock after acquiring an additional 4,836 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Crown Castle were worth $2,949,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CCI. Charles Schwab Investment Management Inc. lifted its position in Crown Castle by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,121,794 shares of the real estate investment trust’s stock valued at $464,854,000 after purchasing an additional 118,860 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Crown Castle by 7.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 34,910 shares of the real estate investment trust’s stock valued at $3,168,000 after acquiring an additional 2,365 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Crown Castle by 130.4% in the 4th quarter. Jones Financial Companies Lllp now owns 12,903 shares of the real estate investment trust’s stock valued at $1,171,000 after acquiring an additional 7,302 shares during the last quarter. SRS Capital Advisors Inc. grew its position in Crown Castle by 178.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,895 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 1,215 shares in the last quarter. Finally, Bailard Inc. bought a new stake in Crown Castle during the fourth quarter worth approximately $342,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Trading Up 1.8 %

Shares of NYSE CCI opened at $95.79 on Tuesday. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month 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 business has a fifty day simple moving average of $89.86 and a two-hundred day simple moving average of $102.23. The firm has a market cap of $41.63 billion, a PE ratio of 33.97 and a beta of 0.88.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CCI. JMP Securities initiated coverage on Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective for the company. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company cut their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $108.75.

About Crown Castle

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.