Sei Investments Co. Trims Stake in Crown Castle Inc. (NYSE:CCI)

Sei Investments Co. lowered its position in shares of Crown Castle Inc. (NYSE:CCI) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,202,642 shares of the real estate investment trust’s stock after selling 39,120 shares during the period. Sei Investments Co. owned about 0.28% of Crown Castle worth $109,151,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Versor Investments LP lifted its stake in Crown Castle by 120.0% during the fourth quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust’s stock worth $767,000 after purchasing an additional 4,608 shares during the last quarter. Nordea Investment Management AB lifted its stake in Crown Castle by 29.4% during the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after purchasing an additional 282,821 shares during the last quarter. Oak Thistle LLC bought a new stake in Crown Castle during the fourth quarter worth about $1,231,000. Avanza Fonder AB bought a new stake in Crown Castle during the fourth quarter worth about $3,083,000. Finally, Fisher Asset Management LLC lifted its stake in Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after purchasing an additional 203,442 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.9 %

CCI stock opened at $106.61 on Friday. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The business’s 50 day moving average price is $92.77 and its two-hundred day moving average price is $101.13. 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 company has a market capitalization of $46.42 billion, a price-to-earnings ratio of 37.81 and a beta of 0.89.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 5.87%. Crown Castle’s payout ratio is currently -69.71%.

Analyst Ratings Changes

CCI has been the subject of a number of recent research reports. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Scotiabank lowered their target price on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a research note on Friday, March 14th. Barclays boosted their target price on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, March 17th. UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a research note on Friday, March 14th. Finally, Citigroup boosted their target price on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, March 14th. 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $110.00.

Crown Castle Company 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.