Teacher Retirement System of Texas Boosts Stake in Crown Castle Inc. (NYSE:CCI)

Teacher Retirement System of Texas boosted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 781.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,632 shares of the real estate investment trust’s stock after acquiring an additional 22,723 shares during the period. Teacher Retirement System of Texas’ holdings in Crown Castle were worth $2,326,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Twin Tree Management LP purchased a new stake in shares of Crown Castle in the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC boosted its stake in Crown Castle by 300.0% during the fourth 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 4th quarter valued at $37,000. Marshall Investment Management LLC acquired a new stake in shares of Crown Castle in the 4th quarter worth $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Crown Castle during the 4th quarter worth $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CCI shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Citigroup raised their price target on shares of Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, March 14th. JPMorgan Chase & Co. decreased their price objective on Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $85.00 to $105.00 in a research note on Monday, March 17th. Finally, Argus raised Crown Castle to a “hold” rating in a research note on Friday, March 21st. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Crown Castle presently has an average rating of “Moderate Buy” and an average target price of $110.00.

Crown Castle Trading Up 0.6 %

NYSE CCI opened at $101.04 on Thursday. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The firm has a 50 day simple moving average of $93.71 and a 200-day simple moving average of $100.86. The firm has a market cap of $44.00 billion, a price-to-earnings ratio of 35.83 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

Crown Castle Dividend Announcement

The firm also recently declared 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 of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.20%. Crown Castle’s dividend payout ratio (DPR) is -69.71%.

About Crown Castle

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.