Magnolia Capital Management Ltd. Lowers Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Magnolia Capital Management Ltd. reduced its stake in Crown Castle Inc. (NYSE:CCI) by 2.4% during the third quarter, according to the company in its most recent 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 quarter. Magnolia Capital Management Ltd.’s holdings in Crown Castle were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CCI. Pinnacle Bancorp Inc. increased its stake in Crown Castle by 13.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 90 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of Crown Castle by 2.4% during the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after acquiring an additional 91 shares in the last quarter. Prosperity Consulting Group LLC increased its position in shares of Crown Castle by 4.4% during the second quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 95 shares in the last quarter. True North Advisors LLC raised its holdings in Crown Castle by 4.2% in the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC lifted its position in Crown Castle by 0.5% in the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of NYSE:CCI traded down $0.65 during midday trading on Tuesday, hitting $109.54. The company had a trading volume of 792,110 shares, compared to its average volume of 2,625,489. The company has a market cap of $47.60 billion, a price-to-earnings ratio of 39.07 and a beta of 0.85. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. The company has a fifty day moving average of $114.02 and a two-hundred day moving average of $105.20. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $120.92.

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 analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the company earned $1.77 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities research analysts expect that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have commented on CCI. UBS Group lifted their target price on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Citigroup set a $128.00 target price on Crown Castle in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Finally, Bank of America boosted their price objective on shares of 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $116.47.

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.