Nordea Investment Management AB Has $113.47 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

Nordea Investment Management AB grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 29.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,243,722 shares of the real estate investment trust’s stock after buying an additional 282,821 shares during the quarter. Nordea Investment Management AB owned approximately 0.29% of Crown Castle worth $113,465,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after buying an additional 3,371,186 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Crown Castle by 433.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock valued at $470,838,000 after acquiring an additional 3,225,460 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Crown Castle by 4,097.8% during the second quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock worth $246,617,000 after purchasing an additional 2,464,094 shares during the period. Bank of Montreal Can grew its stake in shares of Crown Castle by 191.7% in the second quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock worth $195,183,000 after purchasing an additional 1,335,644 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Crown Castle by 13,271.6% in the 3rd quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock valued at $115,449,000 after buying an additional 965,907 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their price target for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Citigroup set a $128.00 price objective on shares of Crown Castle in a research report on Thursday, October 17th. TD Cowen dropped their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, Wells Fargo & Company cut Crown Castle from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $105.00 to $100.00 in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $113.93.

Crown Castle Trading Down 1.7 %

Shares of Crown Castle stock opened at $88.44 on Tuesday. The stock has a market capitalization of $38.44 billion, a P/E ratio of 31.36 and a beta of 0.87. Crown Castle Inc. has a 52-week low of $88.26 and a 52-week high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock’s 50-day simple moving average is $100.10 and its 200 day simple moving average is $106.24.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.77 earnings per share. As a group, research analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 7.08%. Crown Castle’s payout ratio is currently 221.99%.

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.