Louisiana State Employees Retirement System Makes New Investment in Crown Castle Inc. (NYSE:CCI)

Louisiana State Employees Retirement System acquired a new position in Crown Castle Inc. (NYSE:CCI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 26,200 shares of the real estate investment trust’s stock, valued at approximately $3,018,000.

Other institutional investors have also added to or reduced their stakes in the company. United Services Automobile Association grew its stake in shares of Crown Castle by 23.1% in the third quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock worth $1,234,000 after acquiring an additional 2,516 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Crown Castle by 0.5% in the third quarter. Van ECK Associates Corp now owns 117,914 shares of the real estate investment trust’s stock worth $10,852,000 after acquiring an additional 542 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Crown Castle by 8,611.0% in the fourth quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock worth $81,006,000 after acquiring an additional 695,163 shares during the last quarter. Manning & Napier Group LLC purchased a new stake in shares of Crown Castle in the fourth quarter worth $5,005,000. Finally, Dynamic Advisor Solutions LLC grew its stake in shares of Crown Castle by 82.3% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 36,963 shares of the real estate investment trust’s stock worth $4,205,000 after acquiring an additional 16,687 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 1.1 %

CCI stock opened at $95.62 on Tuesday. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $134.09. The business’s 50-day moving average is $105.96 and its two-hundred day moving average is $105.22. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market cap of $41.55 billion, a price-to-earnings ratio of 27.64, a P/E/G ratio of 2.57 and a beta of 0.73.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend payout ratio is 180.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CCI shares. Royal Bank of Canada increased their target price on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 21st. BMO Capital Markets raised Crown Castle from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $107.00 to $110.00 in a research note on Friday, January 19th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $118.93.

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.