Sentry Investment Management LLC Has $147,000 Stake in Crown Castle Inc. (NYSE:CCI)

Sentry Investment Management LLC lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 14.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,622 shares of the real estate investment trust’s stock after selling 264 shares during the period. Sentry Investment Management LLC’s holdings in Crown Castle were worth $147,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB grew its stake in Crown Castle by 29.4% in the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after acquiring an additional 282,821 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Crown Castle by 24.7% in the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after purchasing an additional 31,319 shares in the last quarter. Oak Thistle LLC acquired a new stake in Crown Castle in the 4th quarter valued at $1,231,000. Avanza Fonder AB bought a new stake in Crown Castle during the 4th quarter valued at $3,083,000. Finally, Fisher Asset Management LLC raised its holdings in Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after buying an additional 203,442 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

CCI opened at $91.58 on Thursday. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The firm has a 50-day moving average of $89.63 and a 200 day moving average of $102.61. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $39.80 billion, a P/E ratio of 32.48 and a beta of 0.88.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.84%. Crown Castle’s dividend payout ratio is currently 221.99%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $117.00 to $104.00 in a report on Monday, January 13th. Wells Fargo & Company cut their price target on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Citigroup cut their target price on Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, JMP Securities started coverage on Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $108.75.

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.