Tobam Decreases Holdings in Crown Castle Inc. $CCI

Tobam decreased its stake in Crown Castle Inc. (NYSE:CCI) by 43.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,564 shares of the real estate investment trust’s stock after selling 13,748 shares during the quarter. Tobam’s holdings in Crown Castle were worth $1,695,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Foresight Group Ltd Liability Partnership increased its stake in Crown Castle by 25.8% during the third quarter. Foresight Group Ltd Liability Partnership now owns 103,407 shares of the real estate investment trust’s stock worth $9,950,000 after acquiring an additional 21,194 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Crown Castle by 15.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,963 shares of the real estate investment trust’s stock worth $6,847,000 after purchasing an additional 9,552 shares during the period. Country Club Bank increased its position in shares of Crown Castle by 20.1% during the 3rd quarter. Country Club Bank now owns 70,778 shares of the real estate investment trust’s stock worth $6,808,000 after purchasing an additional 11,851 shares during the last quarter. Cooke & Bieler LP raised its holdings in Crown Castle by 6.1% in the 3rd quarter. Cooke & Bieler LP now owns 2,419,034 shares of the real estate investment trust’s stock valued at $233,413,000 after buying an additional 138,061 shares during the period. Finally, Miller Howard Investments Inc. NY acquired a new position in Crown Castle in the third quarter valued at about $2,578,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CCI shares. BMO Capital Markets reduced their price target on shares of Crown Castle from $97.00 to $91.00 and set an “outperform” rating on the stock in a research note on Thursday, February 5th. Citigroup dropped their target price on shares of Crown Castle from $110.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 5th. Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a research note on Monday, December 29th. New Street Research lowered Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price target for the company. in a research report on Monday, January 5th. Finally, Raymond James Financial cut their price objective on Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating on the stock in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.61.

Crown Castle Trading Up 3.1%

Crown Castle stock opened at $90.55 on Monday. Crown Castle Inc. has a twelve month low of $77.01 and a twelve month high of $115.76. The stock’s fifty day simple moving average is $87.26 and its 200-day simple moving average is $92.87. The firm has a market capitalization of $39.43 billion, a P/E ratio of 89.66, a P/E/G ratio of 0.46 and a beta of 0.96.

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.