Sumitomo Mitsui Trust Holdings Inc. Purchases 670 Shares of Crown Castle Inc. (NYSE:CCI)

Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Crown Castle Inc. (NYSE:CCI) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 923,261 shares of the real estate investment trust’s stock after purchasing an additional 670 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.21% of Crown Castle worth $106,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Almanack Investment Partners LLC. purchased a new stake in shares of Crown Castle during the third quarter worth $28,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of Crown Castle in the second quarter worth $29,000. Riverview Trust Co raised its position 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. ICA Group Wealth Management LLC purchased a new stake in shares of Crown Castle in the fourth quarter worth $37,000. Finally, Valley National Advisers Inc. raised its position in shares of Crown Castle by 51.1% in the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 97 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Down 1.8 %

Shares of NYSE:CCI opened at $93.93 on Wednesday. The stock’s 50-day moving average price is $105.69 and its 200-day moving average price is $105.23. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $134.09. The stock has a market capitalization of $40.81 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 2.54 and a beta of 0.73. 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 announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $1.565 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.66%. Crown Castle’s payout ratio is presently 180.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CCI shares. Royal Bank of Canada increased their price objective on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research report 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 company from $107.00 to $110.00 in a research note on Friday, January 19th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Crown Castle has a consensus rating of “Hold” and an average target price 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.