ING Groep NV Grows Stock Holdings in Crown Castle Inc. $CCI

ING Groep NV raised its stake in Crown Castle Inc. (NYSE:CCI) by 670.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 441,296 shares of the real estate investment trust’s stock after buying an additional 383,998 shares during the period. ING Groep NV owned approximately 0.10% of Crown Castle worth $42,581,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Crown Castle by 15.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,963 shares of the real estate investment trust’s stock valued at $6,847,000 after purchasing an additional 9,552 shares during the last quarter. Country Club Bank boosted its position in shares of Crown Castle by 20.1% in the 3rd quarter. Country Club Bank now owns 70,778 shares of the real estate investment trust’s stock worth $6,808,000 after buying an additional 11,851 shares in the last quarter. Cooke & Bieler LP boosted its position in shares of 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 worth $233,413,000 after buying an additional 138,061 shares in the last quarter. Miller Howard Investments Inc. NY acquired a new stake in Crown Castle in the 3rd quarter valued at about $2,578,000. Finally, National Pension Service increased its holdings in Crown Castle by 3.5% during the 3rd quarter. National Pension Service now owns 656,795 shares of the real estate investment trust’s stock valued at $63,374,000 after acquiring an additional 21,986 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CCI shares. Royal Bank Of Canada reduced their price target on shares of Crown Castle from $112.00 to $110.00 and set an “outperform” rating on the stock in a report on Monday, January 12th. UBS Group cut their price objective on Crown Castle from $116.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Wells Fargo & Company reduced their target price on Crown Castle from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. HSBC lowered their target price on Crown Castle from $107.00 to $88.40 and set a “hold” rating on the stock in a report on Thursday, February 5th. Finally, The Goldman Sachs Group cut their price target on Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $100.61.

About Crown Castle

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.