Flputnam Investment Management Co. Sells 12,543 Shares of Crown Castle Inc. (NYSE:CCI)

Flputnam Investment Management Co. trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 70.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,183 shares of the real estate investment trust’s stock after selling 12,543 shares during the quarter. Flputnam Investment Management Co.’s holdings in Crown Castle were worth $597,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Keel Point LLC acquired a new stake in Crown Castle in the 4th quarter valued at $219,000. Bourgeon Capital Management LLC increased its stake in Crown Castle by 17.5% in the 4th quarter. Bourgeon Capital Management LLC now owns 1,745 shares of the real estate investment trust’s stock valued at $201,000 after buying an additional 260 shares during the last quarter. Hoxton Planning & Management LLC acquired a new stake in Crown Castle in the 4th quarter valued at $241,000. Strs Ohio increased its stake in Crown Castle by 7.7% in the 4th quarter. Strs Ohio now owns 183,887 shares of the real estate investment trust’s stock valued at $21,181,000 after buying an additional 13,098 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Crown Castle by 6.0% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,107 shares of the real estate investment trust’s stock valued at $819,000 after buying an additional 404 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

NYSE CCI opened at $93.03 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46. The company has a market capitalization of $40.42 billion, a P/E ratio of 26.89, a P/E/G ratio of 2.50 and a beta of 0.73. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $134.09. The firm has a 50-day moving average price of $105.41 and a two-hundred day moving average price of $105.15.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.73%. The ex-dividend date was Thursday, March 14th. Crown Castle’s dividend payout ratio is currently 180.92%.

Analyst Ratings Changes

Several brokerages have issued reports on CCI. Royal Bank of Canada lifted their price target on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 21st. BMO Capital Markets upgraded shares of Crown Castle from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $107.00 to $110.00 in a research note on Friday, January 19th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $118.93.

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.