Nomura Asset Management Co. Ltd. Has $11.79 Million Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Nomura Asset Management Co. Ltd. lifted its position in Crown Castle Inc. (NYSE:CCI) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,846 shares of the real estate investment trust’s stock after buying an additional 724 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Crown Castle were worth $11,785,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CCI. Norges Bank acquired a new position in shares of Crown Castle during the fourth quarter worth approximately $561,714,000. Vanguard Group Inc. raised its stake in Crown Castle by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock valued at $5,672,451,000 after purchasing an additional 5,934,615 shares during the last quarter. Wellington Management Group LLP boosted its holdings in 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 valued at $2,079,417,000 after purchasing an additional 3,371,186 shares during the period. Raymond James Financial Inc. acquired a new stake in Crown Castle in the 4th quarter worth $95,167,000. Finally, State Street Corp increased its holdings in shares of 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 worth $2,476,470,000 after purchasing an additional 747,390 shares during the period. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Raymond James raised Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their price objective for the stock from $128.00 to $122.00 in a report on Friday, March 14th. Moffett Nathanson cut their target price on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and an average target price of $110.00.

Crown Castle Stock Performance

NYSE CCI opened at $103.61 on Monday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a 50 day moving average of $94.20 and a 200-day moving average of $100.51. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market cap of $45.11 billion, a price-to-earnings ratio of 36.74 and a beta of 0.89.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.04%. Crown Castle’s payout ratio is -69.71%.

About Crown Castle

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.