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

Mendel Money Management lessened its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 34.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,316 shares of the real estate investment trust's stock after selling 10,343 shares during the quarter. Mendel Money Management's holdings in Crown Castle were worth $2,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CCI. CHICAGO TRUST Co NA increased its stake in shares of Crown Castle by 3.0% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock worth $368,000 after purchasing an additional 104 shares during the last quarter. Abel Hall LLC boosted its holdings in Crown Castle by 1.8% in the 1st quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock worth $666,000 after buying an additional 115 shares during the period. Beacon Capital Management LLC grew its position in shares of Crown Castle by 36.6% in the first quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock valued at $47,000 after purchasing an additional 120 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Crown Castle by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust's stock worth $3,894,000 after purchasing an additional 120 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in shares of Crown Castle by 62.1% during the first quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 133 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Crown Castle

In other Crown Castle news, CEO Daniel K. Schlanger sold 20,000 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $106.38, for a total transaction of $2,127,600.00. Following the completion of the transaction, the chief executive officer owned 110,571 shares in the company, valued at approximately $11,762,542.98. This represents a 15.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $106.37, for a total transaction of $850,960.00. Following the completion of the transaction, the executive vice president owned 20,528 shares of the company's stock, valued at $2,183,563.36. This represents a 28.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,600 shares of company stock worth $3,362,752 over the last 90 days. 0.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JMP Securities restated a "market outperform" rating and set a $125.00 price target on shares of Crown Castle in a research report on Thursday. Wells Fargo & Company raised Crown Castle from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $105.00 to $125.00 in a research note on Thursday. Bank of America initiated coverage on shares of Crown Castle in a research note on Monday, May 19th. They set a "buy" rating and a $115.00 price target on the stock. KeyCorp upped their price target on Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Barclays raised their price target on Crown Castle from $113.00 to $117.00 and gave the stock an "overweight" rating in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $115.94.

Crown Castle Stock Down 2.0%

NYSE CCI traded down $2.31 on Friday, reaching $111.60. The stock had a trading volume of 3,419,991 shares, compared to its average volume of 2,744,282. The stock has a fifty day moving average price of $102.19 and a two-hundred day moving average price of $98.56. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a market capitalization of $48.60 billion, a price-to-earnings ratio of -10.46, a P/E/G ratio of 0.86 and a beta of 0.88.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%. The company's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.62 EPS. Sell-side analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $1.0625 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.25 dividend on an annualized basis and a yield of 3.81%. Crown Castle's dividend payout ratio is presently -39.83%.

Crown Castle 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.