Magnolia Capital Management Ltd. Sells 335 Shares of Crown Castle Inc. (NYSE:CCI)

Magnolia Capital Management Ltd. lowered its position in Crown Castle Inc. (NYSE:CCI) by 7.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,310 shares of the real estate investment trust’s stock after selling 335 shares during the period. Magnolia Capital Management Ltd.’s holdings in Crown Castle were worth $391,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Quest Partners LLC increased its position in shares of Crown Castle by 3,672.7% during the 2nd quarter. Quest Partners LLC now owns 415 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 404 shares during the last quarter. Thoroughbred Financial Services LLC bought a new stake in Crown Castle during the second quarter valued at approximately $236,000. Quantbot Technologies LP increased its holdings in Crown Castle by 22.6% during the second quarter. Quantbot Technologies LP now owns 27,863 shares of the real estate investment trust’s stock valued at $2,722,000 after buying an additional 5,135 shares during the last quarter. One Capital Management LLC purchased a new stake in Crown Castle during the second quarter valued at approximately $233,000. Finally, Mercer Global Advisors Inc. ADV raised its position in Crown Castle by 30.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 39,194 shares of the real estate investment trust’s stock worth $3,817,000 after acquiring an additional 9,070 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the subject of several analyst reports. TD Cowen reduced their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. The Goldman Sachs Group upped their price target on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Citigroup set a $128.00 price objective on Crown Castle in a research report on Thursday, October 17th. UBS Group increased their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price target on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.00.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $86.61 on Thursday. The firm has a market cap of $37.64 billion, a price-to-earnings ratio of 30.71 and a beta of 0.87. The firm has a fifty day moving average price of $97.57 and a 200 day moving average price of $105.81. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

Crown Castle (NYSE:CCI) last released its quarterly earnings data 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the company earned $1.77 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 7.23%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio is presently 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.