Healthcare of Ontario Pension Plan Trust Fund Has $18.39 Million Stock Holdings in Crown Castle Inc. $CCI

Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 113.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 226,237 shares of the real estate investment trust’s stock after buying an additional 120,022 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Crown Castle were worth $18,395,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CCI. Wiser Advisor Group LLC acquired a new stake in Crown Castle during the third quarter worth approximately $29,000. Triumph Capital Management acquired a new position in shares of Crown Castle in the third quarter valued at approximately $31,000. Hilton Head Capital Partners LLC grew its position in shares of Crown Castle by 55.6% in the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 134 shares during the last quarter. Salomon & Ludwin LLC increased its stake in shares of Crown Castle by 128.7% during the fourth quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 215 shares during the period. Finally, MV Capital Management Inc. bought a new position in shares of Crown Castle during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CCI. Raymond James Financial boosted their price target on Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 23rd. Truist Financial initiated coverage on Crown Castle in a research report on Tuesday, March 31st. They set a “hold” rating and a $90.00 price objective on the stock. The Goldman Sachs Group began coverage on Crown Castle in a report on Friday, June 26th. They set a “neutral” rating and a $95.00 target price for the company. Jefferies Financial Group boosted their target price on shares of Crown Castle from $84.00 to $89.00 and gave the company a “hold” rating in a research report on Tuesday, April 14th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Crown Castle in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.92.

Crown Castle Trading Down 1.0%

Shares of CCI stock opened at $74.16 on Tuesday. The stock has a market cap of $32.37 billion, a P/E ratio of 37.64, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95. The stock has a 50 day simple moving average of $84.07 and a 200 day simple moving average of $85.63. Crown Castle Inc. has a 1 year low of $73.52 and a 1 year high of $112.75.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $1.0625 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $4.25 annualized dividend and a yield of 5.7%. Crown Castle’s payout ratio is currently 215.74%.

Crown Castle Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.