American Century Companies Inc. Raises Stake in Crown Castle Inc. (NYSE:CCI)

American Century Companies Inc. raised its position in shares of Crown Castle Inc. (NYSE:CCIFree Report) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,558 shares of the real estate investment trust’s stock after purchasing an additional 4,192 shares during the quarter. American Century Companies Inc.’s holdings in Crown Castle were worth $8,702,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CCI. Riverview Trust Co lifted its holdings in shares of Crown Castle by 108.5% in the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 140 shares in the last quarter. Union Savings Bank purchased a new position in shares of Crown Castle in the second quarter worth $27,000. ST Germain D J Co. Inc. purchased a new position in shares of Crown Castle in the second quarter worth $27,000. West Tower Group LLC purchased a new position in shares of Crown Castle in the second quarter worth $28,000. Finally, Almanack Investment Partners LLC. purchased a new position in shares of Crown Castle in the third quarter worth $28,000. Hedge funds and other institutional investors own 90.27% of the company’s stock.

Analysts Set New Price Targets

CCI has been the topic of several research analyst reports. Royal Bank of Canada boosted their target price on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 21st. Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $90.00 to $115.00 in a research report on Tuesday, December 5th. HSBC initiated coverage on shares of Crown Castle in a research report on Thursday, December 14th. They issued a “hold” rating and a $110.00 price target on the stock. Finally, BMO Capital Markets upgraded shares of Crown Castle from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $107.00 to $110.00 in a research report on Friday, January 19th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $121.33.

Get Our Latest Stock Analysis on CCI

Crown Castle Trading Down 0.8 %

NYSE CCI opened at $102.80 on Monday. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $136.29. The company’s 50-day moving average price is $108.29 and its 200-day moving average price is $104.57. The stock has a market cap of $44.67 billion, a PE ratio of 29.71, a PEG ratio of 2.73 and a beta of 0.74. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 15th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date is Thursday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently 180.92%.

Crown Castle Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Castle Inc. (NYSE:CCIFree Report).

Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

Receive News & Ratings for Crown Castle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Castle and related companies with MarketBeat.com's FREE daily email newsletter.