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

Quantinno Capital Management LP lowered its stake in shares of Crown Castle Inc. (NYSE:CCI) by 35.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 90,617 shares of the real estate investment trust’s stock after selling 49,810 shares during the quarter. Quantinno Capital Management LP’s holdings in Crown Castle were worth $7,368,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in CCI. Wiser Advisor Group LLC bought a new stake in shares of Crown Castle in the third quarter worth approximately $29,000. Triumph Capital Management bought a new position in Crown Castle during the third quarter valued at approximately $31,000. Hilton Head Capital Partners LLC lifted its position in Crown Castle by 55.6% during the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 134 shares during the period. Salomon & Ludwin LLC boosted its holdings in Crown Castle by 128.7% in the fourth quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 215 shares during the last quarter. Finally, MV Capital Management Inc. purchased a new stake in Crown Castle in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 4.3%

Shares of NYSE CCI opened at $74.29 on Thursday. The firm has a 50 day moving average of $81.97 and a 200 day moving average of $85.15. The firm has a market capitalization of $32.43 billion, a price-to-earnings ratio of 37.71, a price-to-earnings-growth ratio of 0.41 and a beta of 0.95. Crown Castle Inc. has a 12-month low of $69.72 and a 12-month high of $106.68.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Tuesday, September 15th. Crown Castle’s dividend payout ratio (DPR) is currently 215.74%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Crown Castle in a research note on Friday, May 22nd. Royal Bank Of Canada dropped their price target on Crown Castle from $92.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Wolfe Research downgraded Crown Castle from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 20th. Barclays lifted their price objective on Crown Castle from $91.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. reduced their price objective on Crown Castle from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.13.

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.