Spire Wealth Management grew its position in Crown Castle Inc. (NYSE:CCI – Free Report) by 36.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,852 shares of the real estate investment trust’s stock after acquiring an additional 756 shares during the quarter. Spire Wealth Management’s holdings in Crown Castle were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in the company. Riverview Trust Co increased its position in shares of Crown Castle by 108.5% during the 3rd quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 140 shares during the last quarter. Union Savings Bank bought a new position in shares of Crown Castle during the 2nd quarter valued at approximately $27,000. ST Germain D J Co. Inc. bought a new position in shares of Crown Castle during the 2nd quarter valued at approximately $27,000. West Tower Group LLC bought a new position in shares of Crown Castle during the 2nd quarter valued at approximately $28,000. Finally, Almanack Investment Partners LLC. bought a new position in shares of Crown Castle during the 3rd quarter valued at approximately $28,000. Institutional investors own 90.27% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Morgan Stanley cut their target price on Crown Castle from $151.00 to $113.00 and set an “overweight” rating on the stock in a research report on Monday, October 16th. Royal Bank of Canada cut Crown Castle from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $125.00 to $100.00 in a report on Monday, October 16th. HSBC began coverage on Crown Castle in a report on Thursday, December 14th. They set a “hold” rating and a $110.00 price objective for the company. BMO Capital Markets upgraded Crown Castle from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $107.00 to $110.00 in a report on Friday, January 19th. Finally, Raymond James dropped their price objective on Crown Castle from $126.00 to $104.00 and set an “outperform” rating for the company in a report on Friday, October 20th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle currently has an average rating of “Hold” and an average target price of $120.73.
Crown Castle Price Performance
Shares of CCI stock opened at $108.41 on Friday. The stock has a market capitalization of $47.02 billion, a price-to-earnings ratio of 31.33, a P/E/G ratio of 2.85 and a beta of 0.74. The company has a current ratio of 0.40, a quick ratio of 0.44 and a debt-to-equity ratio of 3.46. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $142.85. The stock has a fifty day simple moving average of $112.37 and a two-hundred day simple moving average of $103.50.
Insider Transactions at Crown Castle
In other news, VP Robert Sean Collins sold 1,500 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $114.16, for a total value of $171,240.00. Following the completion of the transaction, the vice president now directly owns 10,035 shares of the company’s stock, valued at approximately $1,145,595.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.39% of the company’s stock.
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.
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