Intact Investment Management Inc. Has $3.69 Million Stake in Crown Castle Inc. (NYSE:CCI)

Intact Investment Management Inc. trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 28.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,000 shares of the real estate investment trust’s stock after selling 12,700 shares during the period. Intact Investment Management Inc.’s holdings in Crown Castle were worth $3,686,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CCI. The Manufacturers Life Insurance Company lifted its position in shares of Crown Castle by 42.8% in the third quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after buying an additional 2,121,603 shares during the last quarter. Barclays PLC increased its stake in shares of Crown Castle by 217.9% during the third quarter. Barclays PLC now owns 3,058,133 shares of the real estate investment trust’s stock worth $281,439,000 after purchasing an additional 2,096,272 shares during the period. Wellington Management Group LLP increased its stake in shares of Crown Castle by 21.9% during the third quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock worth $932,682,000 after purchasing an additional 1,818,910 shares during the period. FMR LLC increased its stake in shares of Crown Castle by 14.3% during the third quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock worth $1,098,526,000 after purchasing an additional 1,496,330 shares during the period. Finally, Morgan Stanley increased its stake in shares of Crown Castle by 8.9% during the third quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock worth $1,203,648,000 after purchasing an additional 1,064,382 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of CCI traded down $0.63 during midday trading on Friday, hitting $93.58. The company’s stock had a trading volume of 2,697,322 shares, compared to its average volume of 2,940,738. Crown Castle Inc. has a one year low of $84.72 and a one year high of $123.79. The company’s fifty day simple moving average is $103.65 and its two-hundred day simple moving average is $105.34. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. The stock has a market capitalization of $40.66 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 2.49 and a beta of 0.73.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the business earned $1.91 EPS. The company’s revenue was down 7.4% compared to the same quarter last year. As a group, equities analysts expect that Crown Castle Inc. will post 6.59 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.69%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CCI. Bank of America lowered their target price on Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Wells Fargo & Company lowered their target price on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Finally, BMO Capital Markets lowered their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research note on Thursday, April 18th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $113.29.

Crown Castle 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.