Advisors Asset Management Inc. Has $19.10 Million Position in Crown Castle Inc. $CCI

Advisors Asset Management Inc. grew its stake in Crown Castle Inc. (NYSE:CCI) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,982 shares of the real estate investment trust’s stock after purchasing an additional 11,342 shares during the quarter. Advisors Asset Management Inc.’s holdings in Crown Castle were worth $19,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Winnow Wealth LLC acquired a new stake in Crown Castle during the second quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Crown Castle during the second quarter worth approximately $27,000. NewSquare Capital LLC lifted its holdings in Crown Castle by 74.5% during the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares during the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Crown Castle by 47.8% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 98 shares in the last quarter. Finally, LRI Investments LLC bought a new position in Crown Castle during the 3rd quarter worth $29,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI stock opened at $84.64 on Wednesday. Crown Castle Inc. has a fifty-two week low of $77.01 and a fifty-two week high of $115.76. The stock’s fifty day moving average price is $87.29 and its two-hundred day moving average price is $93.30. The company has a market cap of $36.86 billion, a PE ratio of 83.80, a P/E/G ratio of 0.42 and a beta of 0.96.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CCI. Citigroup decreased their price target on shares of Crown Castle from $110.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. The Goldman Sachs Group cut their price objective on shares of Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crown Castle in a report on Monday, December 29th. HSBC cut their price target on Crown Castle from $107.00 to $88.40 and set a “hold” rating for the company in a research note on Thursday, February 5th. Finally, New Street Research lowered Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and an average target price of $100.61.

Crown Castle 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.