Flputnam Investment Management Co. Decreases Stake in Crown Castle Inc. (NYSE:CCI)

Flputnam Investment Management Co. cut its position in shares of Crown Castle Inc. (NYSE:CCI) by 70.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,183 shares of the real estate investment trust’s stock after selling 12,543 shares during the period. Flputnam Investment Management Co.’s holdings in Crown Castle were worth $597,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Keel Point LLC acquired a new position in Crown Castle during the 4th quarter worth approximately $219,000. Bourgeon Capital Management LLC lifted its position in shares of Crown Castle by 17.5% during the 4th quarter. Bourgeon Capital Management LLC now owns 1,745 shares of the real estate investment trust’s stock worth $201,000 after buying an additional 260 shares during the last quarter. Hoxton Planning & Management LLC purchased a new stake in shares of Crown Castle during the 4th quarter worth approximately $241,000. Strs Ohio lifted its position in shares of Crown Castle by 7.7% during the 4th quarter. Strs Ohio now owns 183,887 shares of the real estate investment trust’s stock worth $21,181,000 after buying an additional 13,098 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Crown Castle by 6.0% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,107 shares of the real estate investment trust’s stock worth $819,000 after buying an additional 404 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on CCI shares. BMO Capital Markets upgraded shares of Crown Castle from an “underperform” rating to a “market perform” rating and upped their price target for the company from $107.00 to $110.00 in a research report on Friday, January 19th. Royal Bank of Canada upped their price target on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $118.93.

Crown Castle Stock Performance

NYSE:CCI opened at $93.03 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $134.09. The stock has a market cap of $40.42 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 2.50 and a beta of 0.73. The firm’s fifty day simple moving average is $105.41 and its 200-day simple moving average is $105.15.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $1.565 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.73%. Crown Castle’s dividend payout ratio is currently 180.92%.

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.