Aviva PLC Grows Position in Crown Castle Inc. (NYSE:CCI)

Aviva PLC boosted its position in shares of Crown Castle Inc. (NYSE:CCI) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 552,427 shares of the real estate investment trust’s stock after purchasing an additional 16,705 shares during the period. Aviva PLC owned about 0.13% of Crown Castle worth $50,138,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its stake in Crown Castle by 9.4% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 6,458 shares of the real estate investment trust’s stock worth $766,000 after buying an additional 555 shares during the period. IHT Wealth Management LLC raised its stake in Crown Castle by 35.2% in the third quarter. IHT Wealth Management LLC now owns 5,016 shares of the real estate investment trust’s stock worth $596,000 after buying an additional 1,306 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of Crown Castle by 72.2% during the 3rd quarter. Quantinno Capital Management LP now owns 11,872 shares of the real estate investment trust’s stock worth $1,408,000 after purchasing an additional 4,979 shares during the last quarter. Brookfield Corp ON raised its holdings in Crown Castle by 13.3% in the third quarter. Brookfield Corp ON now owns 1,750,649 shares of the real estate investment trust’s stock worth $207,679,000 after purchasing an additional 205,985 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in Crown Castle by 4.6% during the third quarter. National Bank of Canada FI now owns 4,220,799 shares of the real estate investment trust’s stock valued at $500,713,000 after acquiring an additional 185,238 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

NYSE:CCI opened at $100.89 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. The company has a 50 day moving average price of $95.67 and a 200-day moving average price of $100.11. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The firm has a market cap of $43.93 billion, a price-to-earnings ratio of 35.78 and a beta of 0.89.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.20%. Crown Castle’s dividend payout ratio (DPR) is currently -69.71%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CCI. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Moffett Nathanson lowered their price target on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price objective on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Wolfe Research upgraded shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday, March 17th. Finally, Argus raised shares of Crown Castle to a “hold” rating in a report on Friday, March 21st. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company 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.