Caprock Group LLC Purchases Shares of 12,767 Crown Castle Inc. $CCI

Caprock Group LLC acquired a new position in Crown Castle Inc. (NYSE:CCI) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,767 shares of the real estate investment trust’s stock, valued at approximately $1,266,000.

A number of other institutional investors also recently made changes to their positions in CCI. Winnow Wealth LLC bought a new stake in Crown Castle in the second quarter worth $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Crown Castle in the 2nd quarter valued at about $27,000. NewSquare Capital LLC boosted 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 valued at $29,000 after acquiring an additional 120 shares during the period. LRI Investments LLC bought a new position in Crown Castle during the 3rd quarter worth approximately $29,000. Finally, Creative Financial Designs Inc. ADV increased its stake 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 worth $31,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the topic of several recent analyst reports. Barclays restated 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. Zacks Research cut shares of Crown Castle from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Scotiabank dropped their target price on shares of Crown Castle from $96.00 to $94.00 and set a “sector perform” rating for the company in a report on Thursday, February 5th. Citigroup reduced their price target on Crown Castle from $110.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Finally, KeyCorp dropped their price objective on Crown Castle from $115.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Crown Castle has a consensus rating of “Hold” and a consensus target price of $100.61.

Crown Castle Price Performance

CCI opened at $90.55 on Friday. The firm has a market cap of $39.43 billion, a PE ratio of 89.66, a P/E/G ratio of 0.46 and a beta of 0.96. The stock has a 50-day moving average price of $87.26 and a 200-day moving average price of $92.97. Crown Castle Inc. has a 1 year low of $77.01 and a 1 year high of $115.76.

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.