Magnolia Capital Management Ltd. Sells 115 Shares of Crown Castle Inc. (NYSE:CCI)

Magnolia Capital Management Ltd. trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,645 shares of the real estate investment trust’s stock after selling 115 shares during the period. Magnolia Capital Management Ltd.’s holdings in Crown Castle were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in shares of Crown Castle in the first quarter worth about $27,000. Asset Dedication LLC grew its stake in shares of Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 167 shares in the last quarter. Beacon Capital Management LLC increased its holdings in shares of Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 177 shares during the last quarter. ORG Partners LLC bought a new position in shares of Crown Castle in the 2nd quarter valued at about $34,000. Finally, New Millennium Group LLC bought a new stake in Crown Castle during the second quarter worth approximately $34,000. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wells Fargo & Company upped their price objective on Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday. The Goldman Sachs Group upped their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Citigroup set a $128.00 price objective on shares of Crown Castle in a report on Thursday, October 17th. Jefferies Financial Group upped their target price on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Bank of America boosted their price target on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Crown Castle presently has an average rating of “Hold” and a consensus target price of $116.47.

Crown Castle Price Performance

Shares of NYSE:CCI traded down $0.65 during trading on Tuesday, reaching $109.54. 792,110 shares of the company’s stock traded hands, compared to its average volume of 2,625,489. The firm has a market cap of $47.60 billion, a PE ratio of 39.07 and a beta of 0.85. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $120.92. The company has a quick ratio of 0.43, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a 50-day simple moving average of $114.02 and a 200-day simple moving average of $105.20.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.03). The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. Crown Castle’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 EPS. As a group, analysts predict that Crown Castle Inc. will post 6.65 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date was Friday, September 13th. Crown Castle’s payout ratio is 221.99%.

Crown Castle Company 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.