Essex Financial Services Inc. Reduces Stake in Crown Castle Inc. (NYSE:CCI)

Essex Financial Services Inc. lowered its holdings in Crown Castle Inc. (NYSE:CCI) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,947 shares of the real estate investment trust’s stock after selling 242 shares during the period. Essex Financial Services Inc.’s holdings in Crown Castle were worth $358,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CCI. Nordea Investment Management AB increased its position in shares of Crown Castle by 29.4% during the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after purchasing an additional 282,821 shares during the last quarter. Van ECK Associates Corp grew its position in Crown Castle by 24.7% during the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after acquiring an additional 31,319 shares during the last quarter. Oak Thistle LLC bought a new position in Crown Castle during the 4th quarter worth approximately $1,231,000. Avanza Fonder AB bought a new position in Crown Castle during the 4th quarter worth approximately $3,083,000. Finally, Fisher Asset Management LLC grew its position in Crown Castle by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after acquiring an additional 203,442 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. UBS Group lifted their price objective on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. TD Cowen cut their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. JMP Securities started coverage on Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. Finally, Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and a consensus target price of $108.75.

Crown Castle Trading Up 0.3 %

CCI opened at $89.98 on Friday. The stock has a market cap of $39.10 billion, a PE ratio of 31.91 and a beta of 0.88. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The business has a 50 day moving average of $91.24 and a 200-day moving average of $104.05. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92.

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.