Kentucky Retirement Systems Sells 411 Shares of Crown Castle Inc. (NYSE:CCI)

Kentucky Retirement Systems trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,863 shares of the real estate investment trust’s stock after selling 411 shares during the quarter. Kentucky Retirement Systems’ holdings in Crown Castle were worth $2,710,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CCI. ING Groep NV raised its holdings in Crown Castle by 167.6% during the 4th quarter. ING Groep NV now owns 155,507 shares of the real estate investment trust’s stock worth $14,114,000 after purchasing an additional 97,388 shares during the last quarter. Morningstar Investment Management LLC raised its holdings in Crown Castle by 22.7% during the 4th quarter. Morningstar Investment Management LLC now owns 5,304 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 982 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in Crown Castle by 8.0% during the 4th quarter. Handelsbanken Fonder AB now owns 236,300 shares of the real estate investment trust’s stock worth $21,447,000 after purchasing an additional 17,427 shares during the last quarter. Bryn Mawr Capital Management LLC raised its holdings in Crown Castle by 744.6% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 71,537 shares of the real estate investment trust’s stock worth $6,493,000 after purchasing an additional 63,067 shares during the last quarter. Finally, Alberta Investment Management Corp raised its holdings in Crown Castle by 311.0% during the 4th quarter. Alberta Investment Management Corp now owns 44,800 shares of the real estate investment trust’s stock worth $4,066,000 after purchasing an additional 33,900 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on CCI. Citigroup dropped their price objective on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $117.00 to $104.00 in a report on Monday, January 13th. Scotiabank lowered their price target on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $108.75.

Crown Castle Trading Up 1.1 %

Shares of NYSE:CCI opened at $92.21 on Friday. The firm has a market cap of $40.07 billion, a price-to-earnings ratio of 32.70 and a beta of 0.88. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The company’s fifty day simple moving average is $89.75 and its 200 day simple moving average is $103.00. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

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.