Partners Group Holding AG Sells 27,258 Shares of Crown Castle Inc. $CCI

Partners Group Holding AG lowered its position in Crown Castle Inc. (NYSE:CCI) by 9.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 252,671 shares of the real estate investment trust’s stock after selling 27,258 shares during the quarter. Crown Castle makes up about 1.4% of Partners Group Holding AG’s investment portfolio, making the stock its 25th largest holding. Partners Group Holding AG owned 0.06% of Crown Castle worth $24,380,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Crown Castle in the 2nd quarter valued at about $629,431,000. Lazard Asset Management LLC raised its stake in Crown Castle by 3,051.5% in the second quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock valued at $562,221,000 after buying an additional 5,299,155 shares during the period. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Crown Castle in the third quarter valued at approximately $121,726,000. JPMorgan Chase & Co. boosted its stake in shares of Crown Castle by 33.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,657,030 shares of the real estate investment trust’s stock worth $375,697,000 after acquiring an additional 926,721 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Crown Castle by 15,241.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 757,891 shares of the real estate investment trust’s stock worth $77,858,000 after acquiring an additional 752,951 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $86.03 on Thursday. The company has a market capitalization of $37.52 billion, a P/E ratio of 85.18, a P/E/G ratio of 0.45 and a beta of 0.96. The business’s 50 day simple moving average is $86.99 and its 200 day simple moving average is $91.99. Crown Castle Inc. has a 1 year low of $77.01 and a 1 year high of $115.76.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $4.25 annualized dividend and a yield of 4.9%. Crown Castle’s dividend payout ratio is currently 420.79%.

Analysts Set New Price Targets

CCI has been the subject of a number of research analyst reports. UBS Group reduced their price objective on shares of Crown Castle from $116.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Jefferies Financial Group reduced their target price on shares of Crown Castle from $90.00 to $84.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Barclays decreased their price target on shares of Crown Castle from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 17th. JPMorgan Chase & Co. cut their price objective on shares of Crown Castle from $110.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Finally, Zacks Research downgraded Crown Castle from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and a consensus price target of $100.02.

Crown Castle Company Profile

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.