Sei Investments Co. Sells 299 Shares of Crown Castle Inc. (NYSE:CCI)

Sei Investments Co. decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 0.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,099,734 shares of the real estate investment trust’s stock after selling 299 shares during the quarter. Sei Investments Co. owned approximately 0.25% of Crown Castle worth $107,444,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC boosted its position in Crown Castle by 16.2% during the fourth quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock worth $523,773,000 after purchasing an additional 632,398 shares during the period. BOKF NA boosted its holdings in Crown Castle by 25.6% in the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock worth $417,000 after buying an additional 815 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Crown Castle by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock valued at $98,570,000 after buying an additional 8,136 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Crown Castle during the 1st quarter valued at $4,425,000. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Crown Castle by 30.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock worth $3,789,000 after acquiring an additional 8,346 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 0.1 %

CCI opened at $115.33 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. The business’s fifty day simple moving average is $111.58 and its 200 day simple moving average is $104.05. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $120.92. The stock has a market cap of $50.11 billion, a PE ratio of 36.04 and a beta of 0.85.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. Crown Castle’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same period last year, the firm posted $2.05 EPS. As a group, research analysts expect that Crown Castle Inc. will post 6.64 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $1.565 dividend. The ex-dividend date is Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.43%. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Crown Castle in a research report on Monday, July 1st. They issued a “neutral” rating and a $104.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their target price on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. TD Cowen increased their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. BMO Capital Markets boosted their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. Finally, Raymond James reiterated an “outperform” rating and issued a $126.00 target price (up from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $113.53.

Insider Activity at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total value of $1,128,784.76. Following the completion of the sale, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is owned by insiders.

About Crown Castle

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.