Crown Castle Inc. $CCI Shares Purchased by Sei Investments Co.

Sei Investments Co. boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,756,088 shares of the real estate investment trust’s stock after acquiring an additional 95,453 shares during the quarter. Sei Investments Co. owned about 0.40% of Crown Castle worth $169,445,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in shares of Crown Castle by 7.5% in the 1st quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock valued at $1,714,000 after purchasing an additional 1,150 shares in the last quarter. Savant Capital LLC boosted its holdings in Crown Castle by 14.2% during the second quarter. Savant Capital LLC now owns 5,429 shares of the real estate investment trust’s stock worth $558,000 after buying an additional 675 shares in the last quarter. AE Wealth Management LLC grew its position in Crown Castle by 6.0% during the second quarter. AE Wealth Management LLC now owns 7,193 shares of the real estate investment trust’s stock worth $739,000 after buying an additional 406 shares during the period. Los Angeles Capital Management LLC grew its position in Crown Castle by 6.8% during the second quarter. Los Angeles Capital Management LLC now owns 2,283 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 145 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Crown Castle in the second quarter valued at about $641,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling at Crown Castle

In related news, EVP Edward B. Adams, Jr. sold 4,650 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total transaction of $401,481.00. Following the sale, the executive vice president owned 25,183 shares of the company’s stock, valued at $2,174,300.22. This trade represents a 15.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert Sean Collins sold 3,000 shares of Crown Castle stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $87.49, for a total value of $262,470.00. Following the sale, the vice president owned 5,800 shares of the company’s stock, valued at approximately $507,442. This represents a 34.09% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Crown Castle from a “sell (d)” rating to a “hold (c-)” rating in a research report on Tuesday, February 24th. HSBC dropped their price objective on Crown Castle from $107.00 to $88.40 and set a “hold” rating for the company in a research note on Thursday, February 5th. Citigroup reduced their price objective on Crown Castle from $110.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 5th. Wells Fargo & Company decreased their target price on Crown Castle from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Finally, Barclays lowered their target price on Crown Castle from $101.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 17th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.13.

Crown Castle Price Performance

Shares of CCI opened at $86.07 on Friday. Crown Castle Inc. has a 1-year low of $77.01 and a 1-year high of $115.76. The stock has a market cap of $37.53 billion, a price-to-earnings ratio of 85.22, a price-to-earnings-growth ratio of 0.44 and a beta of 0.96. The firm has a 50 day simple moving average of $87.26 and a 200-day simple moving average of $91.05.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $4.25 annualized dividend and a yield of 4.9%. Crown Castle’s dividend payout ratio (DPR) is presently 420.79%.

Crown Castle Company 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.