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Manning & Napier Group LLC Acquires Shares of 43,450 Crown Castle Inc. (NYSE:CCI)

Manning & Napier Group LLC purchased a new position in shares of Crown Castle Inc. (NYSE:CCI – Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 43,450 shares of the real estate investment trust’s stock, valued at approximately $5,005,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CCI. Occidental Asset Management LLC grew its stake in shares of Crown Castle by 30.2% in the 4th quarter. Occidental Asset Management LLC now owns 19,183 shares of the real estate investment trust’s stock valued at $2,210,000 after buying an additional 4,453 shares during the period. Precedent Wealth Partners LLC purchased a new stake in Crown Castle in the 4th quarter valued at about $598,000. Caprock Group LLC lifted its position in Crown Castle by 87.9% in the fourth quarter. Caprock Group LLC now owns 9,821 shares of the real estate investment trust’s stock valued at $1,131,000 after buying an additional 4,593 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in Crown Castle during the fourth quarter worth about $221,000. Finally, Ellsworth Advisors LLC purchased a new stake in shares of Crown Castle in the 4th quarter valued at approximately $440,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Up 0.2 %

Shares of NYSE:CCI traded up $0.24 during trading on Friday, reaching $105.83. The stock had a trading volume of 2,074,242 shares, compared to its average volume of 2,479,860. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46. The stock has a market cap of $45.99 billion, a P/E ratio of 30.59, a PEG ratio of 2.81 and a beta of 0.74. The business has a fifty day moving average price of $107.78 and a 200-day moving average price of $104.73. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $136.29.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date was Thursday, March 14th. Crown Castle’s dividend payout ratio is presently 180.92%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. HSBC initiated coverage on Crown Castle in a research note on Thursday, December 14th. They set a “hold” rating and a $110.00 target price on the stock. BMO Capital Markets raised Crown Castle from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $107.00 to $110.00 in a research note on Friday, January 19th. Royal Bank of Canada increased their price target on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. Finally, Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $90.00 to $115.00 in a research note on Tuesday, December 5th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Crown Castle has a consensus rating of “Hold” and an average price target of $118.93.

Check Out Our Latest Stock Report on CCI

About Crown Castle

(Free Report)

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.

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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