Manning & Napier Group LLC Buys New Position in Crown Castle Inc. (NYSE:CCI)

Manning & Napier Group LLC purchased a new position in Crown Castle Inc. (NYSE:CCIFree Report) during the 4th quarter, HoldingsChannel reports. The firm purchased 43,450 shares of the real estate investment trust’s stock, valued at approximately $5,005,000.

A number of other large investors also recently modified their holdings of CCI. Riverview Trust Co raised its stake in shares of Crown Castle by 108.5% in the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. Union Savings Bank bought a new stake in Crown Castle in the second quarter valued at about $27,000. ST Germain D J Co. Inc. acquired a new position in Crown Castle in the second quarter worth about $27,000. West Tower Group LLC bought a new position in Crown Castle during the second quarter worth about $28,000. Finally, Almanack Investment Partners LLC. acquired a new stake in Crown Castle during the third quarter valued at approximately $28,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $105.83 on Friday. The stock has a market capitalization of $45.99 billion, a P/E ratio of 30.59, a P/E/G ratio of 2.81 and a beta of 0.74. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $136.29. The business has a 50-day moving average price of $107.78 and a two-hundred day moving average price of $104.68.

Crown Castle Announces Dividend

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

Wall Street Analyst Weigh In

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

Read Our Latest Report on Crown Castle

Crown Castle Profile

(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.

See Also

Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Castle Inc. (NYSE:CCIFree Report).

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

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