Sentry Investment Management LLC Reduces Stake in Crown Castle Inc. (NYSE:CCI)

Sentry Investment Management LLC lowered its holdings in Crown Castle Inc. (NYSE:CCI) by 9.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,272 shares of the real estate investment trust’s stock after selling 244 shares during the quarter. Sentry Investment Management LLC’s holdings in Crown Castle were worth $262,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Magnolia Capital Advisors LLC lifted its position in Crown Castle by 3.2% during the fourth quarter. Magnolia Capital Advisors LLC now owns 2,375 shares of the real estate investment trust’s stock valued at $322,000 after purchasing an additional 73 shares in the last quarter. Summit Financial Group Inc. raised its holdings in Crown Castle by 5.5% during the third quarter. Summit Financial Group Inc. now owns 1,638 shares of the real estate investment trust’s stock valued at $237,000 after acquiring an additional 85 shares during the period. Orion Portfolio Solutions LLC raised its holdings in Crown Castle by 2.4% during the first quarter. Orion Portfolio Solutions LLC now owns 3,678 shares of the real estate investment trust’s stock valued at $679,000 after acquiring an additional 86 shares during the period. Townsend & Associates Inc raised its holdings in Crown Castle by 5.7% during the fourth quarter. Townsend & Associates Inc now owns 1,682 shares of the real estate investment trust’s stock valued at $238,000 after acquiring an additional 90 shares during the period. Finally, Dakota Community Bank & Trust NA raised its holdings in Crown Castle by 4.2% during the third quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock valued at $204,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

CCI stock opened at $93.93 on Wednesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $134.09. The stock has a market cap of $40.81 billion, a PE ratio of 27.15, a P/E/G ratio of 2.54 and a beta of 0.73. The company has a 50-day moving average price of $105.69 and a 200 day moving average price of $105.23.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.66%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is currently 180.92%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CCI. Royal Bank of Canada raised their price target on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a report on Wednesday, February 21st. BMO Capital Markets raised Crown Castle from an “underperform” rating to a “market perform” rating and raised their price target for the company from $107.00 to $110.00 in a report on Friday, January 19th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.