Mendel Money Management Has $426,000 Stock Holdings in Crown Castle Inc. $CCI

Mendel Money Management trimmed its position in Crown Castle Inc. (NYSE:CCI) by 73.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,420 shares of the real estate investment trust’s stock after selling 12,021 shares during the period. Mendel Money Management’s holdings in Crown Castle were worth $426,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Foresight Group Ltd Liability Partnership raised its position in Crown Castle by 25.8% in the third quarter. Foresight Group Ltd Liability Partnership now owns 103,407 shares of the real estate investment trust’s stock worth $9,950,000 after acquiring an additional 21,194 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Crown Castle by 15.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,963 shares of the real estate investment trust’s stock valued at $6,847,000 after acquiring an additional 9,552 shares during the period. Country Club Bank increased its stake in shares of Crown Castle by 20.1% during the 3rd quarter. Country Club Bank now owns 70,778 shares of the real estate investment trust’s stock worth $6,808,000 after purchasing an additional 11,851 shares during the last quarter. Cooke & Bieler LP raised its holdings in shares of Crown Castle by 6.1% in the 3rd quarter. Cooke & Bieler LP now owns 2,419,034 shares of the real estate investment trust’s stock worth $233,413,000 after purchasing an additional 138,061 shares during the period. Finally, Miller Howard Investments Inc. NY purchased a new position in Crown Castle in the third quarter valued at approximately $2,578,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 1.2%

Crown Castle stock opened at $86.36 on Friday. The business has a 50-day simple moving average of $87.12 and a 200 day simple moving average of $92.58. Crown Castle Inc. has a 52 week low of $77.01 and a 52 week high of $115.76. The stock has a market cap of $37.61 billion, a price-to-earnings ratio of 85.50, a PEG ratio of 0.44 and a beta of 0.96.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wolfe Research downgraded Crown Castle from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Royal Bank Of Canada dropped their price objective on shares of Crown Castle from $112.00 to $110.00 and set an “outperform” rating on the stock in a report on Monday, January 12th. New Street Research downgraded shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a research note on Monday, January 5th. Scotiabank cut their price objective on shares of Crown Castle from $96.00 to $94.00 and set a “sector perform” rating for the company in a report on Thursday, February 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Crown Castle from $110.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $100.02.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.