Generali Investments Management Co LLC Has $1.76 Million Stake in Crown Castle Inc. $CCI

Generali Investments Management Co LLC lowered its position in shares of Crown Castle Inc. (NYSE:CCI) by 30.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,242 shares of the real estate investment trust’s stock after selling 8,107 shares during the period. Generali Investments Management Co LLC’s holdings in Crown Castle were worth $1,760,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Empowered Funds LLC grew its holdings in shares of Crown Castle by 7.5% during the first quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock worth $1,714,000 after purchasing an additional 1,150 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Crown Castle during the 2nd quarter worth approximately $1,676,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Crown Castle by 12.5% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 83,025 shares of the real estate investment trust’s stock worth $8,529,000 after buying an additional 9,200 shares during the period. New York Life Investment Management LLC grew its holdings in Crown Castle by 1.4% during the 2nd quarter. New York Life Investment Management LLC now owns 65,221 shares of the real estate investment trust’s stock worth $6,700,000 after acquiring an additional 922 shares during the last quarter. Finally, Daymark Wealth Partners LLC acquired a new position in Crown Castle in the 2nd quarter valued at approximately $230,000. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Zacks Research downgraded shares of Crown Castle from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. The Goldman Sachs Group decreased their price objective on Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. JPMorgan Chase & Co. lowered their target price on Crown Castle from $110.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. New Street Research lowered Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a research report on Monday, January 5th. Finally, Jefferies Financial Group decreased their price target on Crown Castle from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.02.

Crown Castle Stock Up 0.3%

CCI stock opened at $86.30 on Friday. The firm has a market cap of $37.63 billion, a price-to-earnings ratio of 85.45, a PEG ratio of 0.44 and a beta of 0.96. The company’s fifty day simple moving average is $86.98 and its 200 day simple moving average is $91.95. Crown Castle Inc. has a 12-month low of $77.01 and a 12-month high of $115.76.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a dividend of $1.0625 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $4.25 annualized dividend and a yield of 4.9%. Crown Castle’s dividend payout ratio (DPR) is currently 420.79%.

Crown Castle Company Profile

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.