Mendel Money Management Has $2.69 Million Stake in Crown Castle Inc. (NYSE:CCI)

Mendel Money Management trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 14.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,659 shares of the real estate investment trust’s stock after selling 4,967 shares during the period. Mendel Money Management’s holdings in Crown Castle were worth $2,692,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CCI. Twin Tree Management LP acquired a new position in Crown Castle during the 4th quarter worth about $25,000. FNY Investment Advisers LLC lifted its position in shares of Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. Roxbury Financial LLC acquired a new stake in shares of Crown Castle in the fourth quarter valued at approximately $37,000. Marshall Investment Management LLC bought a new position in Crown Castle in the 4th quarter worth approximately $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in Crown Castle during the 4th quarter worth $53,000. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CCI. JMP Securities began coverage on Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 target price for the company. KeyCorp raised Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a research note on Friday, March 14th. Scotiabank decreased their price objective on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a research report on Friday, March 14th. Bank of America initiated coverage on shares of Crown Castle in a research note on Thursday, March 20th. They issued a “neutral” rating and a $110.00 price target on the stock. Finally, Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $110.00.

Crown Castle Price Performance

Shares of CCI opened at $100.43 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market cap of $43.73 billion, a PE ratio of 35.61 and a beta of 0.89. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The business has a 50-day simple moving average of $93.42 and a two-hundred day simple moving average of $100.86.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.23%. Crown Castle’s dividend payout ratio is presently -69.71%.

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.