Busey Bank Buys 2,724 Shares of Crown Castle Inc. (NYSE:CCI)

Busey Bank grew its stake in Crown Castle Inc. (NYSE:CCI) by 3.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,139 shares of the real estate investment trust’s stock after purchasing an additional 2,724 shares during the period. Busey Bank’s holdings in Crown Castle were worth $7,273,000 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. Wellington Management Group LLP lifted its holdings in shares of Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after acquiring an additional 3,371,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Crown Castle by 433.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after buying an additional 3,225,460 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Crown Castle by 13,271.6% during the 3rd quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock worth $115,449,000 after acquiring an additional 965,907 shares during the last quarter. State Street Corp boosted its holdings in Crown Castle by 3.7% during the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after acquiring an additional 747,390 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in Crown Castle by 25.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock valued at $375,610,000 after acquiring an additional 642,010 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 1.9 %

NYSE:CCI opened at $88.02 on Thursday. The stock has a market capitalization of $38.25 billion, a price-to-earnings ratio of 31.21 and a beta of 0.87. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week 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 firm has a 50 day moving average of $94.75 and a 200 day moving average of $105.24.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $1.565 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 7.11%. Crown Castle’s payout ratio is 221.99%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wells Fargo & Company decreased their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. UBS Group boosted their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and decreased their price target for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Royal Bank of Canada boosted their price target on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Finally, Citigroup set a $128.00 price objective on Crown Castle in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Crown Castle presently has an average rating of “Hold” and a consensus target price of $110.13.

Crown Castle Company 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.