Crown Castle Inc. (NYSE:CCI) Shares Sold by Financial Perspectives Inc

Financial Perspectives Inc decreased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 33.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 573 shares of the real estate investment trust’s stock after selling 291 shares during the quarter. Financial Perspectives Inc’s holdings in Crown Castle were worth $52,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp grew its holdings in shares of 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 buying an additional 747,390 shares during the last quarter. Wellington Management Group LLP lifted its position in 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 worth $2,079,417,000 after acquiring an additional 3,371,186 shares during the period. Geode Capital Management LLC grew its stake in 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 last quarter. Barclays PLC increased its holdings in shares of Crown Castle by 7.2% in the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock valued at $613,900,000 after purchasing an additional 348,296 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after purchasing an additional 203,442 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft dropped their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. JMP Securities initiated coverage on shares of Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. Citigroup reduced their target price on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Finally, Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and reduced their price objective for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $108.75.

Crown Castle Stock Performance

Shares of CCI stock opened at $89.27 on Thursday. 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 Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The business’s 50 day moving average is $90.00 and its two-hundred day moving average is $103.28. The company has a market capitalization of $38.80 billion, a P/E ratio of 31.65 and a beta of 0.88.

About Crown Castle

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.