Crown Castle Inc. $CCI Shares Acquired by ING Groep NV

ING Groep NV raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 670.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 441,296 shares of the real estate investment trust’s stock after purchasing an additional 383,998 shares during the period. ING Groep NV’s holdings in Crown Castle were worth $42,581,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Winnow Wealth LLC acquired a new position in shares of Crown Castle in the 2nd quarter valued at $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Crown Castle during the 2nd quarter worth $27,000. NewSquare Capital LLC raised its position in shares of Crown Castle by 74.5% in the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 120 shares during the period. LRI Investments LLC acquired a new position in Crown Castle in the third quarter valued at $29,000. Finally, Creative Financial Designs Inc. ADV grew its position in Crown Castle by 47.8% during the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 98 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

CCI has been the topic of a number of research reports. Wells Fargo & Company cut their price objective on Crown Castle from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a report on Monday, December 29th. JPMorgan Chase & Co. decreased their price objective on shares of Crown Castle from $110.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Raymond James Financial dropped their price objective on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating for the company in a research report on Friday, January 23rd. Finally, Barclays restated an “equal weight” rating and set a $101.00 target price (down previously from $104.00) on shares of Crown Castle in a report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.61.

Crown Castle Stock Up 1.9%

Shares of NYSE:CCI opened at $84.64 on Wednesday. The company has a market capitalization of $36.86 billion, a price-to-earnings ratio of 83.80, a price-to-earnings-growth ratio of 0.42 and a beta of 0.96. The company has a 50 day moving average of $87.29 and a two-hundred day moving average of $93.30. Crown Castle Inc. has a 52-week low of $77.01 and a 52-week high of $115.76.

Crown Castle Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.