Crown Castle Inc. $CCI Position Decreased by Caisse Des Depots ET Consignations

Caisse Des Depots ET Consignations reduced its holdings in Crown Castle Inc. (NYSE:CCI) by 37.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,919 shares of the real estate investment trust’s stock after selling 10,735 shares during the quarter. Caisse Des Depots ET Consignations’ holdings in Crown Castle were worth $1,729,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Skylands Capital LLC lifted its position in shares of Crown Castle by 3.9% during the 3rd quarter. Skylands Capital LLC now owns 246,750 shares of the real estate investment trust’s stock valued at $23,809,000 after acquiring an additional 9,210 shares during the last quarter. Caprock Group LLC purchased a new stake in shares of Crown Castle during the third quarter valued at $1,266,000. ING Groep NV boosted its position in shares of Crown Castle by 670.2% in the 3rd quarter. ING Groep NV now owns 441,296 shares of the real estate investment trust’s stock valued at $42,581,000 after purchasing an additional 383,998 shares during the period. Advisors Asset Management Inc. increased its stake in Crown Castle by 6.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 197,982 shares of the real estate investment trust’s stock worth $19,103,000 after purchasing an additional 11,342 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in Crown Castle by 156.0% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 6,409 shares of the real estate investment trust’s stock worth $618,000 after purchasing an additional 3,905 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on CCI shares. Raymond James Financial decreased their target price on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating for the company in a report on Friday, January 23rd. Wells Fargo & Company decreased their price objective on shares of Crown Castle from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. New Street Research downgraded shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research note on Monday, January 5th. Citigroup decreased their target price on Crown Castle from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Finally, Zacks Research lowered Crown Castle from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $100.61.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $86.16 on Thursday. The business has a 50 day simple moving average of $87.25 and a 200 day simple moving average of $93.25. Crown Castle Inc. has a 52 week low of $77.01 and a 52 week high of $115.76. The stock has a market cap of $37.52 billion, a price-to-earnings ratio of 85.31, a PEG ratio of 0.43 and a beta of 0.96.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.