Crown Castle Inc. (NYSE:CCI) Stake Lowered by Flputnam Investment Management Co.

Flputnam Investment Management Co. lowered its position in Crown Castle Inc. (NYSE:CCI) by 66.8% during the fourth quarter, HoldingsChannel.com reports. 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 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CCI. Catalyst Capital Advisors LLC bought a new stake in shares of Crown Castle in the 3rd quarter valued at approximately $25,000. Harbor Capital Advisors Inc. bought a new stake in Crown Castle in the third quarter worth approximately $47,000. FNY Investment Advisers LLC grew its position in Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 300 shares in the last quarter. Roxbury Financial LLC acquired a new position in shares of Crown Castle during the 4th quarter worth $37,000. Finally, Investors Research Corp raised its holdings in shares of Crown Castle by 57.2% during the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 154 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JMP Securities assumed coverage on shares of Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Scotiabank cut their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 23rd. Moffett Nathanson decreased their target price on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Finally, Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $108.75.

Crown Castle Stock Up 1.8 %

Shares of CCI opened at $95.79 on Tuesday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The company has a 50-day simple moving average of $89.86 and a 200-day simple moving average of $102.23. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The firm has a market capitalization of $41.63 billion, a P/E ratio of 33.97 and a beta of 0.88.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $1.565 dividend. The ex-dividend date of this dividend 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 221.99%.

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.