Van ECK Associates Corp Has $10.85 Million Stake in Crown Castle Inc. (NYSE:CCI)

Van ECK Associates Corp increased its stake in shares of Crown Castle Inc. (NYSE:CCIFree Report) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,914 shares of the real estate investment trust’s stock after buying an additional 542 shares during the quarter. Van ECK Associates Corp’s holdings in Crown Castle were worth $10,852,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. increased its holdings in Crown Castle by 0.8% during the 2nd quarter. BlackRock Inc. now owns 31,643,321 shares of the real estate investment trust’s stock valued at $3,605,440,000 after purchasing an additional 258,811 shares in the last quarter. State Street Corp increased its holdings in Crown Castle by 1.4% during the 2nd quarter. State Street Corp now owns 20,907,232 shares of the real estate investment trust’s stock valued at $2,382,170,000 after purchasing an additional 279,702 shares in the last quarter. Capital World Investors increased its holdings in Crown Castle by 17.7% during the 2nd quarter. Capital World Investors now owns 11,823,576 shares of the real estate investment trust’s stock valued at $1,347,178,000 after purchasing an additional 1,780,200 shares in the last quarter. Morgan Stanley increased its holdings in Crown Castle by 1.8% during the 4th quarter. Morgan Stanley now owns 11,343,685 shares of the real estate investment trust’s stock valued at $1,538,658,000 after purchasing an additional 203,085 shares in the last quarter. Finally, Cohen & Steers Inc. increased its holdings in Crown Castle by 27.6% during the 2nd quarter. Cohen & Steers Inc. now owns 11,076,246 shares of the real estate investment trust’s stock valued at $1,262,045,000 after purchasing an additional 2,398,791 shares in the last quarter. Institutional investors own 90.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CCI. Royal Bank of Canada cut Crown Castle from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $125.00 to $100.00 in a report on Monday, October 16th. Citigroup lowered their target price on Crown Castle from $138.00 to $126.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th. Raymond James lowered their target price on Crown Castle from $126.00 to $104.00 and set an “outperform” rating for the company in a research note on Friday, October 20th. Scotiabank started coverage on Crown Castle in a research note on Friday, October 13th. They issued a “sector perform” rating and a $110.00 target price for the company. Finally, BMO Capital Markets raised Crown Castle from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $107.00 to $110.00 in a research note on Friday, January 19th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $120.73.

Get Our Latest Research Report on CCI

Insider Transactions at Crown Castle

In other Crown Castle news, VP Robert Sean Collins sold 1,500 shares of Crown Castle stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $114.16, for a total transaction of $171,240.00. Following the transaction, the vice president now directly owns 10,035 shares in the company, valued at $1,145,595.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Crown Castle Stock Up 0.8 %

NYSE:CCI opened at $108.41 on Friday. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $142.85. The company has a quick ratio of 0.44, a current ratio of 0.40 and a debt-to-equity ratio of 3.46. The firm has a market capitalization of $47.02 billion, a P/E ratio of 31.33, a P/E/G ratio of 2.85 and a beta of 0.74. The stock’s fifty day simple moving average is $112.37 and its 200-day simple moving average is $103.50.

Crown Castle Profile

(Free Report)

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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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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