Victory Capital Management Inc. Acquires 83,915 Shares of Crown Castle Inc. (NYSE:CCI)

Victory Capital Management Inc. lifted its holdings in Crown Castle Inc. (NYSE:CCI) by 29.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 367,900 shares of the real estate investment trust’s stock after buying an additional 83,915 shares during the period. Victory Capital Management Inc.’s holdings in Crown Castle were worth $33,391,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Versor Investments LP increased its holdings in shares of 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 buying an additional 4,608 shares during the last quarter. Nordea Investment Management AB grew its holdings in Crown Castle by 29.4% during the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after purchasing an additional 282,821 shares during the last quarter. Oak Thistle LLC bought a new position in Crown Castle during the 4th quarter valued at about $1,231,000. Avanza Fonder AB bought a new position in Crown Castle during the 4th quarter valued at about $3,083,000. Finally, Fisher Asset Management LLC grew its holdings in 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 last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Trading Up 2.7 %

NYSE:CCI opened at $97.78 on Monday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The firm has a 50 day moving average of $90.22 and a 200 day moving average of $101.83. 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 stock has a market capitalization of $42.49 billion, a price-to-earnings ratio of 34.67 and a beta of 0.89.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.565 per share. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.40%. Crown Castle’s payout ratio is 221.99%.

Analyst Upgrades and Downgrades

CCI has been the topic of several analyst reports. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Scotiabank lowered their price objective on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research report on Thursday, January 23rd. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $117.00 to $104.00 in a research report on Monday, January 13th. Citigroup lowered their price target on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Wells Fargo & Company lowered their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $108.75.

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.