Meeder Advisory Services Inc. Increases Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Meeder Advisory Services Inc. boosted its stake in Crown Castle Inc. (NYSE:CCI) by 11.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,402 shares of the real estate investment trust’s stock after purchasing an additional 436 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Crown Castle were worth $507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Morgan Stanley raised its stake in Crown Castle by 8.9% in the third quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after purchasing an additional 1,064,382 shares in the last quarter. FMR LLC raised its stake in Crown Castle by 14.3% in the third quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock valued at $1,098,526,000 after purchasing an additional 1,496,330 shares in the last quarter. Wellington Management Group LLP grew its position in Crown Castle by 21.9% during the third quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock valued at $932,682,000 after acquiring an additional 1,818,910 shares during the last quarter. Geode Capital Management LLC grew its position in Crown Castle by 1.3% during the first quarter. Geode Capital Management LLC now owns 9,046,249 shares of the real estate investment trust’s stock valued at $1,208,030,000 after acquiring an additional 118,306 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Crown Castle by 42.8% during the third quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after acquiring an additional 2,121,603 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $100.20 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. The firm has a market capitalization of $43.54 billion, a P/E ratio of 28.96, a P/E/G ratio of 2.68 and a beta of 0.73. The business has a fifty day simple moving average of $107.00 and a two-hundred day simple moving average of $104.99. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $136.07.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.25%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend payout ratio is presently 180.92%.

Analysts Set New Price Targets

A number of research analysts have commented on CCI shares. Royal Bank of Canada increased their price target on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. HSBC started coverage on shares of Crown Castle in a research report on Thursday, December 14th. They set 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 increased their price target for the company 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 five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $118.93.

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.