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

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

Several other hedge funds also recently modified their holdings of the stock. Prestige Wealth Management Group LLC boosted its stake in shares of Crown Castle by 7.2% in the 4th quarter. Prestige Wealth Management Group LLC now owns 6,248 shares of the real estate investment trust’s stock worth $567,000 after buying an additional 419 shares during the last quarter. EntryPoint Capital LLC bought a new position in Crown Castle in the 4th quarter valued at $327,000. Vanguard Group Inc. increased its position in shares of Crown Castle by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock valued at $5,672,451,000 after purchasing an additional 5,934,615 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Crown Castle during the 4th quarter worth $984,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Crown Castle during the fourth quarter worth about $13,512,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of research reports. Wells Fargo & Company raised shares of Crown Castle from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $85.00 to $105.00 in a research report on Monday, March 17th. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and lowered their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. UBS Group upgraded Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target for the company in a research note on Friday, March 14th. Barclays boosted their price objective on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, March 17th. Finally, Moffett Nathanson reduced their target price on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Price Performance

Crown Castle stock opened at $100.43 on Wednesday. The firm has a market capitalization of $43.73 billion, a PE ratio of 35.61 and a beta of 0.89. The firm has a 50-day moving average price of $93.42 and a 200-day moving average price of $100.86. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Dividend Announcement

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

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.