Equitable Trust Co. Has $22.72 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

Equitable Trust Co. lowered its stake in Crown Castle Inc. (NYSE:CCI) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,379 shares of the real estate investment trust’s stock after selling 32,920 shares during the period. Crown Castle accounts for 1.3% of Equitable Trust Co.’s holdings, making the stock its 15th largest holding. Equitable Trust Co. owned approximately 0.06% of Crown Castle worth $22,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Malaga Cove Capital LLC raised its stake in Crown Castle by 1.8% during the third quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock worth $658,000 after buying an additional 100 shares during the last quarter. Tsfg LLC raised its stake in Crown Castle by 27.5% during the third quarter. Tsfg LLC now owns 542 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 117 shares during the last quarter. Bleakley Financial Group LLC raised its stake in Crown Castle by 1.8% during the third quarter. Bleakley Financial Group LLC now owns 6,554 shares of the real estate investment trust’s stock worth $777,000 after buying an additional 117 shares during the last quarter. New Century Financial Group LLC raised its stake in Crown Castle by 4.8% during the third quarter. New Century Financial Group LLC now owns 2,645 shares of the real estate investment trust’s stock worth $314,000 after buying an additional 122 shares during the last quarter. Finally, Napa Wealth Management raised its stake in Crown Castle by 4.6% during the third quarter. Napa Wealth Management now owns 2,765 shares of the real estate investment trust’s stock worth $328,000 after buying an additional 122 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Down 0.7 %

Shares of Crown Castle stock opened at $89.57 on Monday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The company has a 50-day moving average of $92.10 and a 200 day moving average of $104.39. The firm has a market cap of $38.93 billion, a price-to-earnings ratio of 31.76 and a beta of 0.88. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CCI. Royal Bank of Canada lifted their price target on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Scotiabank decreased their price target on shares of 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. Moffett Nathanson decreased their price target on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Wells Fargo & Company decreased their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and decreased their price target for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $110.13.

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.