Nisa Investment Advisors LLC Acquires 167,707 Shares of Crown Castle Inc. (NYSE:CCI)

Nisa Investment Advisors LLC grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 76.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 385,829 shares of the real estate investment trust’s stock after purchasing an additional 167,707 shares during the period. Nisa Investment Advisors LLC owned about 0.09% of Crown Castle worth $35,018,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its stake 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 in the last quarter. Wellington Management Group LLP raised its holdings in shares of Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after purchasing an additional 3,371,186 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Crown Castle by 1.3% during the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after purchasing an additional 151,990 shares in the last quarter. Legal & General Group Plc boosted its holdings in Crown Castle by 1.1% during the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock worth $603,518,000 after purchasing an additional 67,072 shares during the last quarter. Finally, Barclays PLC grew its position in Crown Castle by 7.2% in the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after purchasing an additional 348,296 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CCI. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and cut their target price for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. UBS Group upped their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Citigroup set a $128.00 target price on Crown Castle in a research note on Thursday, October 17th. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $117.00 to $104.00 in a research report on Monday, January 13th. Finally, TD Cowen lowered their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $113.00.

Crown Castle Trading Down 0.5 %

NYSE:CCI opened at $90.62 on Wednesday. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The stock’s fifty day moving average price is $96.40 and its two-hundred day moving average price is $105.63. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $39.38 billion, a P/E ratio of 32.14 and a beta of 0.87.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 6.91%. Crown Castle’s dividend payout ratio is currently 221.99%.

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.