TIAA Trust National Association Decreases Stake in Crown Castle Inc. (NYSE:CCI)

TIAA Trust National Association decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 5.2% in the fourth quarter, Holdings Channel reports. The fund owned 2,581 shares of the real estate investment trust’s stock after selling 143 shares during the period. TIAA Trust National Association’s holdings in Crown Castle were worth $234,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Crown Castle by 10.5% in 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 purchasing an additional 5,934,615 shares during the last quarter. State Street Corp increased its stake in shares of Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after acquiring an additional 747,390 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Crown Castle by 23.8% during 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 acquiring an additional 3,371,186 shares during the period. Geode Capital Management LLC boosted its position in shares of Crown Castle by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after acquiring an additional 151,990 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Crown Castle by 2.6% in the fourth quarter. Fisher Asset Management LLC now owns 5,218,431 shares of the real estate investment trust’s stock valued at $473,625,000 after purchasing an additional 130,414 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCI has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a report on Friday, March 14th. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Barclays raised their price objective on Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, March 17th. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and dropped their price objective for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, Argus raised Crown Castle to a “hold” rating in a research note on Friday, March 21st. 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $110.00.

Crown Castle Price Performance

Shares of CCI opened at $103.61 on Friday. 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 Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The stock has a market cap of $45.11 billion, a PE ratio of 36.74 and a beta of 0.89. The firm has a fifty day moving average price of $94.20 and a 200 day moving average price of $100.78.

Crown Castle Dividend Announcement

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

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.