Generali Investments Management Co LLC Has $1.76 Million Position in Crown Castle Inc. $CCI

Generali Investments Management Co LLC cut its stake in shares of Crown Castle Inc. (NYSE:CCI) by 30.8% during the 3rd quarter, Holdings Channel reports. The fund owned 18,242 shares of the real estate investment trust’s stock after selling 8,107 shares during the period. Generali Investments Management Co LLC’s holdings in Crown Castle were worth $1,760,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CCI. Vanguard Group Inc. boosted its position in shares of Crown Castle by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 69,290,381 shares of the real estate investment trust’s stock worth $7,118,201,000 after purchasing an additional 449,776 shares in the last quarter. State Street Corp increased its position in Crown Castle by 0.5% in the 2nd quarter. State Street Corp now owns 21,461,578 shares of the real estate investment trust’s stock valued at $2,204,748,000 after buying an additional 110,050 shares in the last quarter. Norges Bank acquired a new position in Crown Castle during the 2nd quarter worth approximately $629,431,000. Bank of America Corp DE raised its stake in Crown Castle by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 5,534,066 shares of the real estate investment trust’s stock worth $568,515,000 after buying an additional 117,904 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in Crown Castle by 3,051.5% in the second quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock worth $562,221,000 after acquiring an additional 5,299,155 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on CCI. The Goldman Sachs Group decreased their price objective on Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Royal Bank Of Canada reduced their price target on shares of Crown Castle from $112.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, January 12th. Citigroup decreased their price target on shares of Crown Castle from $110.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Raymond James Financial dropped their price objective on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of Crown Castle from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.02.

Crown Castle Trading Up 0.3%

NYSE CCI opened at $86.30 on Friday. The firm has a market capitalization of $37.63 billion, a P/E ratio of 85.45, a PEG ratio of 0.44 and a beta of 0.96. The business has a fifty day simple moving average of $86.98 and a 200 day simple moving average of $91.95. Crown Castle Inc. has a 12 month low of $77.01 and a 12 month high of $115.76.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $1.0625 dividend. The ex-dividend date is Friday, March 13th. This represents a $4.25 annualized dividend and a dividend yield of 4.9%. Crown Castle’s dividend payout ratio is presently 420.79%.

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.