Crown Castle Inc. (NYSE:CCI) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. lowered its stake in Crown Castle Inc. (NYSE:CCI) by 66.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,550 shares of the real estate investment trust’s stock after selling 5,125 shares during the quarter. Flputnam Investment Management Co.’s holdings in Crown Castle were worth $231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in shares of Crown Castle by 13.0% in the third quarter. Farther Finance Advisors LLC now owns 4,071 shares of the real estate investment trust’s stock valued at $483,000 after acquiring an additional 468 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Crown Castle by 5.1% in the third quarter. Janney Montgomery Scott LLC now owns 265,034 shares of the real estate investment trust’s stock worth $31,441,000 after purchasing an additional 12,948 shares during the period. Harbor Capital Advisors Inc. bought a new position in Crown Castle during the 3rd quarter valued at $47,000. Van ECK Associates Corp increased its position in shares of Crown Castle by 24.7% during the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after purchasing an additional 31,319 shares during the period. Finally, Angeles Wealth Management LLC raised its stake in shares of Crown Castle by 14.9% in the 3rd quarter. Angeles Wealth Management LLC now owns 2,501 shares of the real estate investment trust’s stock worth $297,000 after buying an additional 324 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI stock opened at $95.79 on Tuesday. The company has a market capitalization of $41.63 billion, a price-to-earnings ratio of 33.97 and a beta of 0.88. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock’s fifty day simple moving average is $89.86 and its 200-day simple moving average is $102.23.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.565 per share. The ex-dividend date is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.54%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JMP Securities started coverage on Crown Castle in a research note on Monday, January 27th. They set an “outperform” rating and a $115.00 target price for the company. Citigroup reduced their price objective on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $117.00 to $104.00 in a report on Monday, January 13th. Finally, Wells Fargo & Company decreased their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $108.75.

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.