Bank of Nova Scotia Buys 7,043 Shares of Crown Castle Inc. (NYSE:CCI)

Bank of Nova Scotia boosted its stake in Crown Castle Inc. (NYSE:CCI) by 12.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,312 shares of the real estate investment trust’s stock after purchasing an additional 7,043 shares during the quarter. Bank of Nova Scotia’s holdings in Crown Castle were worth $5,746,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Twin Tree Management LP acquired a new position in shares of Crown Castle in the 4th quarter valued at approximately $25,000. FNY Investment Advisers LLC increased its stake in Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 300 shares during the last quarter. Roxbury Financial LLC acquired a new position in Crown Castle during the fourth quarter valued at approximately $37,000. Marshall Investment Management LLC bought a new stake in Crown Castle during the fourth quarter worth $50,000. Finally, Bank of Jackson Hole Trust bought a new stake in Crown Castle during the fourth quarter worth $53,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 1.6 %

NYSE CCI opened at $96.65 on Friday. The firm has a market capitalization of $42.09 billion, a PE ratio of 34.27 and a beta of 0.93. The business’s 50-day moving average price is $96.56 and its two-hundred day moving average price is $99.21. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.48%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s payout ratio is presently -69.71%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CCI shares. Moffett Nathanson decreased their price target on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $128.00 to $122.00 in a research report on Friday, March 14th. UBS Group upgraded shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a research note on Friday, March 14th. Bank of America assumed coverage on shares of Crown Castle in a research report on Thursday, March 20th. They set a “neutral” rating and a $110.00 price objective for the company. Finally, Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $85.00 to $105.00 in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $109.88.

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.