Syon Capital LLC Buys Shares of 2,711 Crown Castle Inc. (NYSE:CCI)

Syon Capital LLC bought a new stake in shares of Crown Castle Inc. (NYSE:CCIFree Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,711 shares of the real estate investment trust’s stock, valued at approximately $249,000.

Other hedge funds have also modified their holdings of the company. Magnolia Capital Advisors LLC boosted its position in shares of Crown Castle by 3.2% during the fourth quarter. Magnolia Capital Advisors LLC now owns 2,375 shares of the real estate investment trust’s stock worth $322,000 after purchasing an additional 73 shares in the last quarter. Summit Financial Group Inc. boosted its position in shares of Crown Castle by 5.5% during the third quarter. Summit Financial Group Inc. now owns 1,638 shares of the real estate investment trust’s stock worth $237,000 after purchasing an additional 85 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Crown Castle by 2.4% during the first quarter. Orion Portfolio Solutions LLC now owns 3,678 shares of the real estate investment trust’s stock worth $679,000 after purchasing an additional 86 shares in the last quarter. Townsend & Associates Inc boosted its position in shares of Crown Castle by 5.7% during the fourth quarter. Townsend & Associates Inc now owns 1,682 shares of the real estate investment trust’s stock worth $238,000 after purchasing an additional 90 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in shares of Crown Castle by 3.4% during the first quarter. Moors & Cabot Inc. now owns 2,734 shares of the real estate investment trust’s stock worth $505,000 after purchasing an additional 91 shares in the last quarter. 90.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CCI. Raymond James reduced their price target on shares of Crown Castle from $126.00 to $104.00 and set an “outperform” rating on the stock in a research report on Friday, October 20th. Royal Bank of Canada cut shares of Crown Castle from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $125.00 to $100.00 in a research report on Monday, October 16th. Citigroup cut their price objective on shares of Crown Castle from $138.00 to $126.00 and set a “buy” rating on the stock in a research report on Tuesday, October 17th. Wells Fargo & Company raised shares of Crown Castle from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $90.00 to $115.00 in a research report on Tuesday, December 5th. Finally, HSBC initiated coverage on shares of Crown Castle in a research report on Thursday, December 14th. They issued a “hold” rating and a $110.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Crown Castle has a consensus rating of “Hold” and an average target price of $122.69.

Get Our Latest Stock Report on CCI

Crown Castle Stock Performance

Shares of Crown Castle stock traded down $2.28 during trading on Friday, hitting $108.53. 2,424,913 shares of the stock were exchanged, compared to its average volume of 2,941,251. The stock has a market capitalization of $47.07 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 2.80 and a beta of 0.76. The company has a fifty day moving average price of $112.43 and a 200-day moving average price of $103.84. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $153.98. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 3.28.

Insider Transactions at Crown Castle

In other news, VP Robert Sean Collins sold 1,500 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $114.16, for a total transaction of $171,240.00. Following the transaction, the vice president now directly owns 10,035 shares in the company, valued at approximately $1,145,595.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by company insiders.

About Crown Castle

(Free Report)

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 85,000 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.

See Also

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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