Crown Castle Inc. (NYSE:CCI) Stake Raised by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 8.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 236,300 shares of the real estate investment trust’s stock after purchasing an additional 17,427 shares during the quarter. Handelsbanken Fonder AB’s holdings in Crown Castle were worth $21,447,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in 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 worth $113,465,000 after buying an additional 282,821 shares during the period. Van ECK Associates Corp raised its holdings 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 buying an additional 31,319 shares during the period. Oak Thistle LLC acquired a new stake in Crown Castle during the 4th quarter worth about $1,231,000. Avanza Fonder AB purchased a new position in Crown Castle during the 4th quarter valued at about $3,083,000. Finally, Fisher Asset Management LLC grew its stake 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 valued at $603,592,000 after acquiring an additional 203,442 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CCI shares. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and lowered their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Wells Fargo & Company lowered their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. Scotiabank lowered their target price on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 23rd. Moffett Nathanson lowered their target price on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Finally, Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $117.00 to $104.00 in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $108.75.

Crown Castle Stock Up 1.1 %

Shares of Crown Castle stock opened at $92.21 on Friday. The stock has a market capitalization of $40.07 billion, a P/E ratio of 32.70 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 stock has a 50 day moving average price of $89.75 and a two-hundred day moving average price of $103.07. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92.

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.