Kingsview Wealth Management LLC trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI – Free Report) by 90.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,940 shares of the real estate investment trust’s stock after selling 27,452 shares during the period. Kingsview Wealth Management LLC’s holdings in Crown Castle were worth $271,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of CCI. Riverview Trust Co grew its stake in shares of Crown Castle by 108.5% during the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 140 shares during the last quarter. Union Savings Bank acquired a new position in shares of Crown Castle during the second quarter valued at about $27,000. ST Germain D J Co. Inc. acquired a new stake in shares of Crown Castle in the 2nd quarter worth about $27,000. West Tower Group LLC purchased a new stake in Crown Castle in the 2nd quarter valued at about $28,000. Finally, Almanack Investment Partners LLC. purchased a new stake in Crown Castle in the 3rd quarter valued at about $28,000. 90.27% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on CCI shares. HSBC started coverage on shares of Crown Castle in a report on Thursday, December 14th. They issued a “hold” rating and a $110.00 price objective for the company. Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $90.00 to $115.00 in a research note on Tuesday, December 5th. Morgan Stanley lowered their target price on shares of Crown Castle from $151.00 to $113.00 and set an “overweight” rating on the stock in a research note on Monday, October 16th. BMO Capital Markets upgraded shares of Crown Castle from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $107.00 to $110.00 in a research note on Friday, January 19th. Finally, Citigroup lowered their target price on shares of Crown Castle from $138.00 to $126.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $120.73.
Crown Castle Trading Down 0.7 %
NYSE:CCI opened at $106.87 on Thursday. Crown Castle Inc. has a one year low of $84.72 and a one year high of $145.14. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.40 and a quick ratio of 0.44. The company’s 50-day simple moving average is $112.77 and its 200 day simple moving average is $103.49. The firm has a market capitalization of $46.35 billion, a P/E ratio of 30.89, a PEG ratio of 2.86 and a beta of 0.74.
Insiders Place Their Bets
In related news, VP Robert Sean Collins sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $114.16, for a total transaction of $171,240.00. Following the completion of the sale, the vice president now directly owns 10,035 shares in the company, valued at $1,145,595.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.39% of the company’s stock.
Crown Castle Profile
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.
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