National Bank of Canada FI Buys 1,573,043 Shares of Crown Castle Inc. (NYSE:CCI)

National Bank of Canada FI lifted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 37.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,793,842 shares of the real estate investment trust’s stock after acquiring an additional 1,573,043 shares during the quarter. Crown Castle accounts for approximately 0.6% of National Bank of Canada FI’s portfolio, making the stock its 24th largest position. National Bank of Canada FI’s holdings in Crown Castle were worth $525,849,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCI. Twin Tree Management LP bought a new stake in Crown Castle during the fourth quarter worth about $25,000. FNY Investment Advisers LLC lifted its position in Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 300 shares during the last quarter. Roxbury Financial LLC purchased a new stake in Crown Castle in the fourth quarter worth approximately $37,000. Marshall Investment Management LLC bought a new position in Crown Castle during the fourth quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Crown Castle during the fourth quarter worth approximately $53,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Shares of NYSE CCI opened at $104.39 on Tuesday. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The stock has a market capitalization of $45.45 billion, a P/E ratio of 37.02 and a beta of 0.89. The company’s 50-day moving average is $94.47 and its 200 day moving average is $100.40. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.00%. The ex-dividend date was Friday, March 14th. Crown Castle’s dividend payout ratio is currently -69.71%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CCI shares. Scotiabank reduced their target price on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a report on Friday, March 14th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Crown Castle in a research note on Tuesday, March 25th. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. reduced their price target on Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Finally, Citigroup boosted their price objective on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Crown Castle presently has a consensus rating of “Moderate Buy” and an average price target of $110.00.

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.