O Shaughnessy Asset Management LLC Sells 8,337 Shares of Crown Castle Inc. (NYSE:CCI)

O Shaughnessy Asset Management LLC lessened its stake in Crown Castle Inc. (NYSE:CCI) by 20.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,094 shares of the real estate investment trust’s stock after selling 8,337 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Crown Castle were worth $3,004,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CCI. Bcwm LLC bought a new stake in Crown Castle in the fourth quarter valued at approximately $3,221,000. Summit Securities Group LLC boosted its stake in shares of Crown Castle by 367.0% in the 4th quarter. Summit Securities Group LLC now owns 1,401 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 1,101 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Crown Castle by 34.1% during the fourth quarter. Schroder Investment Management Group now owns 117,827 shares of the real estate investment trust’s stock worth $10,579,000 after buying an additional 29,973 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Crown Castle by 99.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 918,645 shares of the real estate investment trust’s stock worth $83,376,000 after buying an additional 458,476 shares during the last quarter. Finally, Allianz SE acquired a new position in Crown Castle in the fourth quarter valued at $331,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $107.07 on Friday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The business has a 50 day moving average price of $95.43 and a 200-day moving average price of $100.38. The company has a market cap of $46.62 billion, a PE ratio of 37.97 and a beta of 0.89.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date was Friday, March 14th. Crown Castle’s payout ratio is currently -69.71%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CCI. JMP Securities started coverage on Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Scotiabank cut their price target on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a report on Friday, March 14th. BMO Capital Markets reiterated a “market perform” rating on shares of Crown Castle in a research note on Tuesday, March 25th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.00.

Crown Castle Company 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.