Quantbot Technologies LP Increases Position in Crown Castle Inc. $CCI

Quantbot Technologies LP boosted its stake in Crown Castle Inc. (NYSE:CCI) by 163.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,713 shares of the real estate investment trust’s stock after acquiring an additional 64,377 shares during the period. Quantbot Technologies LP’s holdings in Crown Castle were worth $10,007,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Winnow Wealth LLC bought a new stake in Crown Castle during the second quarter valued at $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Crown Castle in the 2nd quarter valued at approximately $27,000. NewSquare Capital LLC raised its stake in Crown Castle by 74.5% during the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares in the last quarter. LRI Investments LLC bought a new position in shares of Crown Castle in the third quarter worth $29,000. Finally, Creative Financial Designs Inc. ADV increased its holdings in shares of Crown Castle by 47.8% during the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 4,650 shares of Crown Castle stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total value of $401,481.00. Following the completion of the transaction, the executive vice president owned 25,183 shares in the company, valued at approximately $2,174,300.22. The trade was a 15.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert Sean Collins sold 3,000 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $87.49, for a total transaction of $262,470.00. Following the sale, the vice president directly owned 5,800 shares in the company, valued at $507,442. This trade represents a 34.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.10% of the company’s stock.

Crown Castle Stock Up 3.6%

Shares of NYSE CCI opened at $89.54 on Friday. The business’s 50 day moving average is $87.05 and its two-hundred day moving average is $91.85. Crown Castle Inc. has a 12 month low of $77.01 and a 12 month high of $115.76. The company has a market cap of $39.05 billion, a P/E ratio of 88.66, a P/E/G ratio of 0.44 and a beta of 0.96.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $1.0625 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $4.25 annualized dividend and a dividend yield of 4.7%. Crown Castle’s dividend payout ratio is presently 420.79%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CCI shares. HSBC reduced their price objective on shares of Crown Castle from $107.00 to $88.40 and set a “hold” rating for the company in a report on Thursday, February 5th. KeyCorp dropped their price target on shares of Crown Castle from $115.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Wolfe Research lowered shares of Crown Castle from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. UBS Group dropped their target price on shares of Crown Castle from $116.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Finally, Royal Bank Of Canada reduced their target price on shares of Crown Castle from $112.00 to $110.00 and set an “outperform” rating for the company in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.02.

About Crown Castle

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.