Crown Castle Inc. $CCI Shares Sold by Tobam

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Winnow Wealth LLC purchased a new stake in Crown Castle during the 2nd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Crown Castle during the second quarter worth about $27,000. NewSquare Capital LLC boosted its position in Crown Castle by 74.5% in the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 120 shares during the last quarter. LRI Investments LLC acquired a new position in Crown Castle in the 3rd quarter worth approximately $29,000. Finally, Creative Financial Designs Inc. ADV raised its position in Crown Castle by 47.8% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Crown Castle from $110.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. New Street Research lowered shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a report on Monday, January 5th. KeyCorp cut their price target on Crown Castle from $115.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Raymond James Financial decreased their price objective on Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating for the company in a report on Friday, January 23rd. Finally, Barclays restated an “equal weight” rating and issued a $101.00 target price (down previously from $104.00) on shares of Crown Castle in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Crown Castle presently has a consensus rating of “Hold” and a consensus target price of $100.61.

Crown Castle Stock Up 3.1%

NYSE:CCI opened at $90.55 on Monday. Crown Castle Inc. has a 52 week low of $77.01 and a 52 week high of $115.76. The stock has a market capitalization of $39.43 billion, a PE ratio of 89.66, a price-to-earnings-growth ratio of 0.46 and a beta of 0.96. The stock’s 50-day moving average price is $87.26 and its 200-day moving average price is $92.87.

Crown Castle Company 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.