51,019 Shares in Crown Castle Inc. $CCI Bought by Channing Capital Management LLC

Channing Capital Management LLC bought a new position in Crown Castle Inc. (NYSE:CCI) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 51,019 shares of the real estate investment trust’s stock, valued at approximately $4,923,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCI. Empowered Funds LLC increased its stake in shares of Crown Castle by 7.5% in the first quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock worth $1,714,000 after purchasing an additional 1,150 shares during the period. Whittier Trust Co. grew its holdings in Crown Castle by 5.6% in the 2nd quarter. Whittier Trust Co. now owns 2,046 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 109 shares during the last quarter. Cullen Frost Bankers Inc. grew its holdings in Crown Castle by 511.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 324 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 271 shares during the last quarter. D.A. Davidson & CO. increased its position in Crown Castle by 15.2% in the 2nd quarter. D.A. Davidson & CO. now owns 20,209 shares of the real estate investment trust’s stock worth $2,076,000 after buying an additional 2,664 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Crown Castle by 2.2% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 899,853 shares of the real estate investment trust’s stock worth $92,442,000 after buying an additional 19,789 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $88.02 on Friday. The firm has a market cap of $38.33 billion, a P/E ratio of 87.15, a price-to-earnings-growth ratio of 0.45 and a beta of 0.96. The firm’s 50-day simple moving average is $87.06 and its 200-day simple moving average is $92.36. Crown Castle Inc. has a twelve month low of $77.01 and a twelve month high of $115.76.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Crown Castle from $110.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. BMO Capital Markets decreased their price target on shares of Crown Castle from $97.00 to $91.00 and set an “outperform” rating on the stock in a research report on Thursday, February 5th. UBS Group dropped their price objective on shares of Crown Castle from $116.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Raymond James Financial reduced 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 research note on Friday, January 23rd. Finally, Scotiabank lowered their price target on Crown Castle from $96.00 to $94.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Crown Castle presently has an average rating of “Hold” and an average price target of $100.02.

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.