Mendel Money Management Sells 12,021 Shares of Crown Castle Inc. $CCI

Mendel Money Management decreased its position in Crown Castle Inc. (NYSE:CCI) by 73.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,420 shares of the real estate investment trust’s stock after selling 12,021 shares during the quarter. Mendel Money Management’s holdings in Crown Castle were worth $426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CCI. Empowered Funds LLC boosted its stake in shares of Crown Castle by 7.5% in the 1st quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock valued at $1,714,000 after purchasing an additional 1,150 shares in the last quarter. Whittier Trust Co. lifted its stake in Crown Castle by 5.6% in the second quarter. Whittier Trust Co. now owns 2,046 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 109 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in Crown Castle by 511.3% during the second quarter. Cullen Frost Bankers Inc. now owns 324 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 271 shares during the period. D.A. Davidson & CO. grew its stake in shares of Crown Castle by 15.2% during the second quarter. D.A. Davidson & CO. now owns 20,209 shares of the real estate investment trust’s stock valued at $2,076,000 after buying an additional 2,664 shares during the last quarter. Finally, Brookstone Capital Management increased its holdings in shares of Crown Castle by 0.6% in the second quarter. Brookstone Capital Management now owns 121,615 shares of the real estate investment trust’s stock worth $12,493,000 after buying an additional 734 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Trading Down 1.2%

Shares of Crown Castle stock opened at $86.36 on Friday. Crown Castle Inc. has a 12-month low of $77.01 and a 12-month high of $115.76. The company has a market cap of $37.61 billion, a P/E ratio of 85.50, a PEG ratio of 0.44 and a beta of 0.96. The company’s fifty day simple moving average is $87.12 and its two-hundred day simple moving average is $92.58.

Wall Street Analysts Forecast Growth

CCI has been the topic of several recent research reports. Citigroup reduced their price target on Crown Castle from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Raymond James Financial dropped their price objective on Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating for the company in a research note on Friday, January 23rd. Wolfe Research downgraded shares of Crown Castle from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Scotiabank dropped their price target on shares of Crown Castle from $96.00 to $94.00 and set a “sector perform” rating for the company in a research report on Thursday, February 5th. Finally, Royal Bank Of Canada decreased their price objective on shares of Crown Castle from $112.00 to $110.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $100.02.

About Crown Castle

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.