MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Increases Stock Position in Crown Castle Inc. (NYSE:CCI)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in Crown Castle Inc. (NYSE:CCI) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 551,881 shares of the real estate investment trust’s stock after buying an additional 35,757 shares during the quarter. Crown Castle comprises about 1.6% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s investment portfolio, making the stock its 26th biggest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Crown Castle were worth $49,548,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCI. Pinnacle Bancorp Inc. increased its stake in Crown Castle by 13.0% during the third quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 90 shares during the last quarter. Pathway Financial Advisers LLC increased its position in Crown Castle by 2.4% during the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 91 shares in the last quarter. True North Advisors LLC increased its position in Crown Castle by 4.2% during the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 95 shares in the last quarter. Malaga Cove Capital LLC raised its holdings in Crown Castle by 1.8% in the third quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock valued at $658,000 after buying an additional 100 shares during the period. Finally, Tsfg LLC lifted its position in Crown Castle by 27.5% during the third quarter. Tsfg LLC now owns 542 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI stock opened at $88.62 on Friday. The stock has a market capitalization of $38.51 billion, a price-to-earnings ratio of 31.43 and a beta of 0.87. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company’s 50-day simple moving average is $95.88 and its 200-day simple moving average is $105.47. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of research reports. TD Cowen cut their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Scotiabank reduced their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Thursday. Wells Fargo & Company lowered their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday. Citigroup set a $128.00 price target on Crown Castle in a research report on Thursday, October 17th. Finally, UBS Group lifted their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $109.80.

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.