Aberdeen Group plc Has $88.92 Million Position in Crown Castle Inc. $CCI

Aberdeen Group plc raised its holdings in Crown Castle Inc. (NYSE:CCI) by 41.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 924,455 shares of the real estate investment trust’s stock after acquiring an additional 271,556 shares during the quarter. Aberdeen Group plc owned about 0.21% of Crown Castle worth $88,923,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CCI. Vanguard Group Inc. lifted its stake in shares of Crown Castle by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 69,290,381 shares of the real estate investment trust’s stock valued at $7,118,201,000 after purchasing an additional 449,776 shares during the last quarter. State Street Corp lifted its position in shares of Crown Castle by 0.5% in the second quarter. State Street Corp now owns 21,461,578 shares of the real estate investment trust’s stock worth $2,204,748,000 after buying an additional 110,050 shares during the last quarter. Norges Bank acquired a new stake in shares of Crown Castle in the second quarter worth about $629,431,000. Bank of America Corp DE boosted its stake in shares of Crown Castle by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 5,534,066 shares of the real estate investment trust’s stock worth $568,515,000 after acquiring an additional 117,904 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Crown Castle by 3,051.5% during the 2nd quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock valued at $562,221,000 after acquiring an additional 5,299,155 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada reduced their target price on Crown Castle from $112.00 to $110.00 and set an “outperform” rating for the company in a report on Monday, January 12th. UBS Group reduced their price objective on shares of Crown Castle from $116.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. BMO Capital Markets decreased their price objective on shares of Crown Castle from $97.00 to $91.00 and set an “outperform” rating for the company in a report on Thursday, February 5th. Barclays reiterated an “equal weight” rating and issued a $101.00 target price (down previously from $104.00) on shares of Crown Castle in a report on Monday, December 1st. Finally, Jefferies Financial Group cut their target price on shares of Crown Castle from $90.00 to $84.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $100.61.

Crown Castle Stock Up 3.1%

CCI stock opened at $90.55 on Monday. Crown Castle Inc. has a twelve month low of $77.01 and a twelve month high of $115.76. The company has a market cap of $39.43 billion, a PE ratio of 89.66, a price-to-earnings-growth ratio of 0.46 and a beta of 0.96. The business’s 50-day simple moving average is $87.26 and its 200 day simple moving average is $92.87.

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.