Victory Capital Management Inc. Boosts Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Victory Capital Management Inc. grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 29.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 367,900 shares of the real estate investment trust’s stock after buying an additional 83,915 shares during the quarter. Victory Capital Management Inc. owned 0.08% of Crown Castle worth $33,391,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in 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 worth $2,079,417,000 after purchasing an additional 3,371,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 purchasing an additional 3,225,460 shares during the last quarter. State Street Corp boosted its holdings in Crown Castle by 3.7% in the third 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 last quarter. Proficio Capital Partners LLC boosted its holdings in Crown Castle by 9,471.0% in the fourth quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust’s stock worth $748,000 after purchasing an additional 739,779 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Crown Castle by 25.4% in the third quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock worth $375,610,000 after purchasing an additional 642,010 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CCI. Scotiabank dropped their target price on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $117.00 to $104.00 in a research report on Monday, January 13th. Finally, Moffett Nathanson decreased their price objective on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Crown Castle has an average rating of “Hold” and a consensus price target of $108.75.

Crown Castle Stock Performance

CCI opened at $97.78 on Monday. The stock has a market capitalization of $42.49 billion, a price-to-earnings ratio of 34.67 and a beta of 0.89. The company has a fifty day moving average of $90.22 and a 200 day moving average of $101.83. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 yield of 6.40%. Crown Castle’s payout ratio is 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.