First American Bank Boosts Holdings in Crown Castle Inc. (NYSE:CCI)

First American Bank raised its stake in Crown Castle Inc. (NYSE:CCI) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,591 shares of the real estate investment trust’s stock after acquiring an additional 828 shares during the quarter. First American Bank’s holdings in Crown Castle were worth $5,590,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CCI. State Street Corp raised 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. Wellington Management Group LLP grew its position 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of Crown Castle by 1.3% during the 3rd 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 during the period. Barclays PLC lifted its holdings in Crown Castle by 7.2% during 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. Finally, Fisher Asset Management LLC lifted its holdings in shares of Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after buying an additional 203,442 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CCI has been the topic of a number of analyst reports. Moffett Nathanson decreased their target price on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Scotiabank reduced their target price on 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. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company dropped their target price 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $108.75.

Crown Castle Trading Up 2.1 %

Shares of CCI opened at $93.58 on Friday. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The stock has a market capitalization of $40.67 billion, a P/E ratio of 33.18 and a beta of 0.88. 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 fifty day simple moving average of $89.69 and a two-hundred day simple moving average of $102.55.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.69%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

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.