Handelsbanken Fonder AB Grows Holdings in Crown Castle Inc. (NYSE:CCI)

Handelsbanken Fonder AB boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 236,300 shares of the real estate investment trust’s stock after purchasing an additional 17,427 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.05% of Crown Castle worth $21,447,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC acquired a new position in Crown Castle in the third quarter worth $25,000. Rosenberg Matthew Hamilton boosted its holdings in Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares during the period. FNY Investment Advisers LLC boosted its holdings in Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 300 shares during the period. Roxbury Financial LLC acquired a new position in Crown Castle in the fourth quarter worth $37,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Crown Castle during the third quarter valued at $47,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $92.21 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The company’s 50-day moving average price is $89.75 and its two-hundred day moving average price is $103.07. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The stock has a market cap of $40.07 billion, a PE ratio of 32.70 and a beta of 0.88.

Analyst Upgrades and Downgrades

CCI has been the subject of several analyst reports. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Citigroup reduced their price target on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company reduced their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. Finally, Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $108.75.

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.