Ieq Capital LLC Decreases Holdings in Crown Castle Inc. (NYSE:CCI)

Ieq Capital LLC reduced its position in Crown Castle Inc. (NYSE:CCI) by 14.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 20,842 shares of the real estate investment trust’s stock after selling 3,604 shares during the period. Ieq Capital LLC’s holdings in Crown Castle were worth $1,892,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after buying an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Crown Castle by 433.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock valued at $470,838,000 after acquiring an additional 3,225,460 shares during the last quarter. State Street Corp increased its holdings in Crown Castle by 3.7% during the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after acquiring an additional 747,390 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Crown Castle by 25.4% during the third quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock worth $375,610,000 after acquiring an additional 642,010 shares during the last quarter. Finally, Mizuho Markets Americas LLC lifted its holdings in shares of Crown Castle by 70.0% in the third quarter. Mizuho Markets Americas LLC now owns 850,000 shares of the real estate investment trust’s stock valued at $100,836,000 after purchasing an additional 350,000 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Up 1.1 %

NYSE CCI opened at $92.21 on Monday. The firm has a market capitalization of $40.07 billion, a price-to-earnings ratio of 32.70 and a beta of 0.88. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company’s 50 day moving average price is $89.75 and its 200 day moving average price is $102.94.

Analyst Upgrades and Downgrades

CCI has been the subject of several recent research reports. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and dropped their price target for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. JMP Securities began coverage on Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target for the company. Scotiabank decreased their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday, January 23rd. Finally, Royal Bank of Canada upped their target price on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Crown Castle presently has a consensus rating of “Hold” and an average price target of $108.75.

Crown Castle 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.