MTM Investment Management LLC Sells 150 Shares of Crown Castle Inc. (NYSE:CCI)

MTM Investment Management LLC cut its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,271 shares of the real estate investment trust’s stock after selling 150 shares during the quarter. MTM Investment Management LLC’s holdings in Crown Castle were worth $478,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB increased its holdings in shares of Crown Castle by 29.4% during the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after purchasing an additional 282,821 shares during the period. Van ECK Associates Corp increased its holdings in shares of Crown Castle by 24.7% during the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after purchasing an additional 31,319 shares during the period. Oak Thistle LLC bought a new position in Crown Castle in the fourth quarter valued at approximately $1,231,000. Avanza Fonder AB acquired a new position in Crown Castle during the fourth quarter valued at approximately $3,083,000. Finally, Fisher Asset Management LLC lifted its stake in Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after purchasing an additional 203,442 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Performance

Crown Castle stock opened at $89.81 on Thursday. The business has a 50 day moving average of $91.51 and a 200-day moving average of $104.15. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. 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 market capitalization of $39.03 billion, a P/E ratio of 31.85 and a beta of 0.88.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CCI. Scotiabank decreased their price target on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 23rd. TD Cowen lowered their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Moffett Nathanson lowered their target price on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. UBS Group boosted their target price on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and an average target price of $110.13.

Crown Castle Company Profile

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.