Crown Castle Inc. $CCI Shares Purchased by Ingalls & Snyder LLC

Ingalls & Snyder LLC grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 49.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,507 shares of the real estate investment trust’s stock after acquiring an additional 10,110 shares during the quarter. Ingalls & Snyder LLC’s holdings in Crown Castle were worth $2,944,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. 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 position in Crown Castle in the second quarter valued at $27,000. NewSquare Capital LLC grew its position in Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares during the period. LRI Investments LLC acquired a new stake in Crown Castle during the third quarter worth about $29,000. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of Crown Castle by 47.8% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 98 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Up 1.7%

CCI stock opened at $91.92 on Wednesday. The stock’s 50 day moving average is $87.29 and its two-hundred day moving average is $92.66. Crown Castle Inc. has a 52-week low of $77.01 and a 52-week high of $115.76. The company has a market capitalization of $40.03 billion, a PE ratio of 91.01, a P/E/G ratio of 0.46 and a beta of 0.96.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CCI shares. Citigroup decreased their target price on Crown Castle from $110.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 5th. UBS Group decreased their price objective on shares of Crown Castle from $116.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Wolfe Research downgraded shares of Crown Castle from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. BMO Capital Markets reduced their target price on shares of Crown Castle from $97.00 to $91.00 and set an “outperform” rating on the stock in a report on Thursday, February 5th. Finally, New Street Research downgraded Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price target for the company. in a report on Monday, January 5th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Crown Castle currently has a consensus rating of “Hold” and an average target price of $100.02.

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.