Crown Castle Inc. (NYSE:CCI) Stock Holdings Cut by D.A. Davidson & CO.

D.A. Davidson & CO. reduced its position in shares of Crown Castle Inc. (NYSE:CCI) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,719 shares of the real estate investment trust’s stock after selling 2,759 shares during the quarter. D.A. Davidson & CO.’s holdings in Crown Castle were worth $1,608,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its stake in Crown Castle by 4.5% during the 4th quarter. CIBC Asset Management Inc now owns 66,920 shares of the real estate investment trust’s stock valued at $6,074,000 after purchasing an additional 2,873 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Crown Castle by 10.1% during the 4th quarter. Principal Financial Group Inc. now owns 601,740 shares of the real estate investment trust’s stock valued at $54,614,000 after purchasing an additional 55,117 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Crown Castle by 1,522.1% during the 4th quarter. Allworth Financial LP now owns 60,408 shares of the real estate investment trust’s stock worth $5,342,000 after acquiring an additional 56,684 shares in the last quarter. Roxbury Financial LLC bought a new stake in shares of Crown Castle during the 4th quarter worth $37,000. Finally, ABC Arbitrage SA bought a new stake in shares of Crown Castle during the 4th quarter worth $1,394,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $92.21 on Friday. 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 1 year low of $84.20 and a 1 year high of $120.92. The business has a fifty day simple moving average of $89.75 and a 200 day simple moving average of $103.00. The firm has a market cap of $40.07 billion, a price-to-earnings ratio of 32.70 and a beta of 0.88.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CCI shares. Royal Bank of Canada raised their price objective on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Scotiabank reduced their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research note on Thursday, January 23rd. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. JMP Securities started coverage on Crown Castle in a research note on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective for the company. Finally, Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $108.75.

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.