Intact Investment Management Inc. Has $7 Million Position in Crown Castle Inc. $CCI

Intact Investment Management Inc. lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 15.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 72,500 shares of the real estate investment trust’s stock after selling 13,700 shares during the period. Intact Investment Management Inc.’s holdings in Crown Castle were worth $6,996,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CCI. Winnow Wealth LLC bought a new position in Crown Castle in the 2nd quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Crown Castle in the second quarter worth $27,000. NewSquare Capital LLC grew its stake in shares of Crown Castle by 74.5% in the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 120 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in 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 worth $31,000 after acquiring an additional 98 shares during the period. Finally, Cullen Frost Bankers Inc. raised its stake in Crown Castle by 511.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 324 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 271 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CCI. Raymond James Financial decreased their price target on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating on the stock in a research report on Friday. UBS Group decreased their target price on Crown Castle from $127.00 to $116.00 and set a “buy” rating on the stock in a research report on Tuesday, January 20th. KeyCorp lowered their price target on Crown Castle from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday. Jefferies Financial Group reduced their price objective on Crown Castle from $102.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, December 16th. Finally, Barclays reissued an “equal weight” rating and set a $101.00 price objective (down previously from $104.00) on shares of Crown Castle in a report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $106.75.

Crown Castle Trading Up 0.5%

NYSE CCI opened at $86.58 on Monday. Crown Castle Inc. has a 1-year low of $83.21 and a 1-year high of $115.76. The company has a market capitalization of $37.70 billion, a price-to-earnings ratio of -8.14, a PEG ratio of 0.55 and a beta of 0.96. The stock’s 50 day moving average is $88.59 and its two-hundred day moving average is $95.14.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Monday, December 15th. Crown Castle’s dividend payout ratio is -39.98%.

Crown Castle 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.