Crown Castle Inc. (NYSE:CCI) Shares Sold by Mendel Money Management

Mendel Money Management lowered its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Prestige Wealth Management Group LLC raised its holdings in 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 purchasing an additional 419 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Crown Castle during the 4th quarter worth approximately $327,000. Vanguard Group Inc. lifted 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 buying an additional 5,934,615 shares in the last quarter. Stevens Capital Management LP acquired a new stake in Crown Castle in the 4th quarter valued at $984,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Crown Castle in the 4th quarter worth $13,512,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Trading Up 1.0 %

NYSE:CCI traded up $1.02 on Friday, hitting $103.61. The stock had a trading volume of 2,689,742 shares, compared to its average volume of 2,856,642. The company has a fifty day moving average price of $94.20 and a two-hundred day moving average price of $100.65. The stock has a market cap of $45.11 billion, a price-to-earnings ratio of 36.74 and a beta of 0.89. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date is Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is -69.71%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CCI. Wells Fargo & Company upgraded shares of Crown Castle from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $85.00 to $105.00 in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on Crown Castle from $116.00 to $96.00 and set a "hold" rating on the stock in a report on Thursday, January 23rd. Raymond James raised Crown Castle from an "outperform" rating to a "strong-buy" rating and reduced their target price for the company from $128.00 to $122.00 in a report on Friday, March 14th. Jefferies Financial Group downgraded Crown Castle from a "buy" rating to a "hold" rating and decreased their target price for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. dropped their price target on Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $110.00.

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.