Mediolanum International Funds Ltd Trims Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Mediolanum International Funds Ltd lessened its position in shares of Crown Castle Inc. (NYSE:CCI) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,669 shares of the real estate investment trust’s stock after selling 1,171 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Crown Castle were worth $4,967,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CCI. EntryPoint Capital LLC purchased a new stake in Crown Castle in the first quarter valued at approximately $27,000. Asset Dedication LLC lifted its stake in Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares during the period. Beacon Capital Management LLC lifted its stake in Crown Castle by 163.9% during the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 177 shares during the period. ORG Partners LLC purchased a new stake in shares of Crown Castle in the 2nd quarter valued at $34,000. Finally, New Millennium Group LLC acquired a new stake in shares of Crown Castle in the second quarter worth $34,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on CCI. Royal Bank of Canada upped their price target on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. TD Cowen lowered their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company lifted their price target on Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. The Goldman Sachs Group upped their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, UBS Group lifted their target price on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Crown Castle currently has a consensus rating of “Hold” and a consensus price target of $116.47.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $108.91 on Friday. The stock has a market capitalization of $47.33 billion, a P/E ratio of 38.62 and a beta of 0.85. The business has a 50 day simple moving average of $114.05 and a two-hundred day simple moving average of $105.41. Crown Castle Inc. has a 12 month low of $87.38 and a 12 month high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.77 earnings per share. As a group, analysts predict that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $1.565 dividend. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.75%. Crown Castle’s dividend payout ratio is presently 221.99%.

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.