Sei Investments Co. Sells 39,120 Shares of Crown Castle Inc. (NYSE:CCI)

Sei Investments Co. cut its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 3.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,202,642 shares of the real estate investment trust's stock after selling 39,120 shares during the period. Sei Investments Co. owned approximately 0.28% of Crown Castle worth $109,151,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. American Century Companies Inc. increased its holdings in shares of Crown Castle by 3.4% during the fourth quarter. American Century Companies Inc. now owns 144,766 shares of the real estate investment trust's stock worth $13,139,000 after purchasing an additional 4,772 shares during the period. Mizuho Securities USA LLC increased its stake in Crown Castle by 46.2% during the 4th quarter. Mizuho Securities USA LLC now owns 41,190 shares of the real estate investment trust's stock worth $3,738,000 after acquiring an additional 13,011 shares during the period. Virtu Financial LLC acquired a new position in Crown Castle in the 4th quarter valued at $3,037,000. Millstone Evans Group LLC bought a new stake in shares of Crown Castle during the 4th quarter valued at $150,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Crown Castle during the 4th quarter worth $5,858,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Up 1.5 %

NYSE:CCI traded up $1.52 during trading hours on Thursday, hitting $102.61. 3,196,376 shares of the company were exchanged, compared to its average volume of 2,664,512. The stock has a market capitalization of $44.68 billion, a price-to-earnings ratio of 36.38 and a beta of 0.89. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a fifty day simple moving average of $93.71 and a 200 day simple moving average of $100.86. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

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Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle's dividend payout ratio is currently -69.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CCI shares. Moffett Nathanson cut their price objective on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Crown Castle from $116.00 to $96.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. UBS Group upgraded shares of Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price objective for the company in a research report on Friday, March 14th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Crown Castle in a report on Tuesday. Finally, Scotiabank decreased their price target on Crown Castle from $102.00 to $99.00 and set a "sector perform" rating on the stock in a research note on Friday, March 14th. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $110.00.

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.