CIBC Asset Management Inc Raises Stock Holdings in Crown Castle Inc. (NYSE:CCI)

CIBC Asset Management Inc grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,920 shares of the real estate investment trust’s stock after buying an additional 2,873 shares during the period. CIBC Asset Management Inc’s holdings in Crown Castle were worth $6,074,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its holdings in Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after purchasing an additional 3,371,186 shares during the period. Geode Capital Management LLC raised its position in shares of Crown Castle by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after purchasing an additional 151,990 shares during the period. Barclays PLC lifted its stake in shares of Crown Castle by 7.2% during the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock valued at $613,900,000 after buying an additional 348,296 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Crown Castle by 4.2% in 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 buying an additional 203,442 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CCI has been the topic of several research analyst reports. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. JMP Securities began coverage on shares of Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Moffett Nathanson decreased their price target on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Finally, Citigroup cut their price objective on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $108.75.

Crown Castle Price Performance

Crown Castle stock opened at $89.27 on Thursday. The firm has a market capitalization of $38.80 billion, a PE ratio of 31.65 and a beta of 0.88. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a 50-day moving average price of $90.00 and a 200-day moving average price of $103.28. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

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.