Quantinno Capital Management LP Sells 49,810 Shares of Crown Castle Inc. $CCI

Quantinno Capital Management LP trimmed its position in Crown Castle Inc. (NYSE:CCI) by 35.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,617 shares of the real estate investment trust’s stock after selling 49,810 shares during the period. Quantinno Capital Management LP’s holdings in Crown Castle were worth $7,368,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wiser Advisor Group LLC purchased a new stake in shares of Crown Castle in the 3rd quarter worth about $29,000. Hilton Head Capital Partners LLC lifted its position in Crown Castle by 55.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 134 shares during the period. Triumph Capital Management purchased a new position in Crown Castle during the 3rd quarter valued at about $31,000. Global Assets Advisory LLC bought a new stake in Crown Castle during the first quarter worth about $32,000. Finally, Salomon & Ludwin LLC boosted its stake in Crown Castle by 128.7% during the fourth quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 215 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CCI. The Goldman Sachs Group started coverage on Crown Castle in a research report on Friday, June 26th. They issued a “neutral” rating and a $95.00 price target on the stock. Royal Bank Of Canada reduced their price objective on Crown Castle from $92.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. BMO Capital Markets lowered their price objective on Crown Castle from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, July 20th. Citizens Jmp cut their target price on Crown Castle from $125.00 to $120.00 and set a “market outperform” rating on the stock in a research note on Friday, July 24th. Finally, Truist Financial reduced their price target on Crown Castle from $95.00 to $87.00 and set a “hold” rating for the company in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.13.

Crown Castle Stock Down 4.3%

Shares of NYSE CCI opened at $74.29 on Thursday. Crown Castle Inc. has a twelve month low of $69.72 and a twelve month high of $106.68. The firm has a market cap of $32.43 billion, a P/E ratio of 37.71, a PEG ratio of 0.41 and a beta of 0.95. The company has a 50 day moving average of $81.97 and a 200 day moving average of $85.15.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $1.0625 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.7%. Crown Castle’s dividend payout ratio (DPR) is presently 215.74%.

Crown Castle 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.