Maple Brown Abbott Ltd Has $85.79 Million Position in Crown Castle Inc. (NYSE:CCI)

Maple Brown Abbott Ltd boosted its position in Crown Castle Inc. (NYSE:CCI) by 7.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 945,268 shares of the real estate investment trust’s stock after acquiring an additional 69,150 shares during the period. Crown Castle accounts for approximately 10.5% of Maple Brown Abbott Ltd’s portfolio, making the stock its 3rd largest holding. Maple Brown Abbott Ltd owned approximately 0.22% of Crown Castle worth $85,793,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CCI. Nordea Investment Management AB grew its position in shares of Crown Castle by 29.4% in the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after purchasing an additional 282,821 shares in the last quarter. Van ECK Associates Corp grew its holdings in Crown Castle by 24.7% during the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after buying an additional 31,319 shares in the last quarter. Oak Thistle LLC purchased a new position in Crown Castle during the 4th quarter valued at about $1,231,000. Avanza Fonder AB bought a new stake in shares of Crown Castle during the fourth quarter valued at about $3,083,000. 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 currently owned by institutional investors.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $88.49 on Monday. The firm has a market cap of $38.46 billion, a PE ratio of 31.38 and a beta of 0.87. The company’s fifty day simple moving average is $95.29 and its two-hundred day simple moving average is $105.36. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 7.07%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CCI. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their price objective 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 shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Citigroup set a $128.00 price objective on Crown Castle in a research report on Thursday, October 17th. Moffett Nathanson reduced their target price on Crown Castle from $127.00 to $105.00 in a research report on Thursday. Finally, TD Cowen decreased their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $109.80.

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.