Mitsubishi UFJ Trust & Banking Corp Sells 121,744 Shares of Crown Castle Inc. (NYSE:CCI)

Mitsubishi UFJ Trust & Banking Corp lowered its position in Crown Castle Inc. (NYSE:CCI) by 39.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 190,517 shares of the real estate investment trust’s stock after selling 121,744 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Crown Castle were worth $17,291,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CCI. Vanguard Group Inc. increased its holdings in Crown Castle by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock valued at $5,672,451,000 after buying an additional 5,934,615 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Crown Castle by 23.8% in the 3rd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Crown Castle by 433.8% in the 3rd 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 period. Raymond James Financial Inc. purchased a new position in Crown Castle during the fourth quarter valued at $95,167,000. Finally, State Street Corp grew its holdings in Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.0 %

NYSE:CCI opened at $103.61 on Friday. The stock has a fifty day simple moving average of $94.20 and a 200-day simple moving average of $100.78. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a market cap of $45.11 billion, a price-to-earnings ratio of 36.74 and a beta of 0.89. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $1.565 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.04%. Crown Castle’s dividend payout ratio is currently -69.71%.

Analyst Ratings Changes

CCI has been the topic of several recent research reports. UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective on the stock in a research note on Friday, March 14th. Bank of America started coverage on shares of Crown Castle in a report on Thursday, March 20th. They set a “neutral” rating and a $110.00 price target on the stock. Wolfe Research raised shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday, March 17th. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Barclays increased their price target on Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, March 17th. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

Crown Castle Company 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.