Sei Investments Co. Cuts Stock Position in Crown Castle Inc. (NYSE:CCI)

Sei Investments Co. lowered its stake in Crown Castle Inc. (NYSE:CCI) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,202,642 shares of the real estate investment trust’s stock after selling 39,120 shares during the quarter. Sei Investments Co.’s holdings in Crown Castle were worth $109,151,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Accurate Wealth Management LLC boosted its stake in Crown Castle by 5.4% during the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 124 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Crown Castle by 12.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 126 shares during the last quarter. IFP Advisors Inc boosted its stake in Crown Castle by 5.9% during the 4th quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock valued at $216,000 after purchasing an additional 133 shares during the last quarter. Howard Capital Management Inc. boosted its stake in Crown Castle by 1.2% during the 4th quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock valued at $1,041,000 after purchasing an additional 135 shares during the last quarter. Finally, Cidel Asset Management Inc. boosted its stake in Crown Castle by 6.4% during the 4th quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust’s stock valued at $207,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CCI. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Raymond James raised Crown Castle from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $128.00 to $122.00 in a report on Friday, March 14th. JPMorgan Chase & Co. lowered their price target on Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Scotiabank lowered their price target on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a report on Friday, March 14th. Finally, Citigroup increased their price target on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a report on Friday, March 14th. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $106.61 on Friday. The stock’s 50-day simple moving average is $92.77 and its 200-day simple moving average is $101.13. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The company has a market capitalization of $46.42 billion, a price-to-earnings ratio of 37.81 and a beta of 0.89. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.565 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 5.87%. Crown Castle’s payout ratio is -69.71%.

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.