Equitable Trust Co. Sells 14,876 Shares of Crown Castle Inc. $CCI

Equitable Trust Co. trimmed its position in Crown Castle Inc. (NYSE:CCI) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,312 shares of the real estate investment trust’s stock after selling 14,876 shares during the quarter. Crown Castle makes up approximately 1.0% of Equitable Trust Co.’s portfolio, making the stock its 25th biggest holding. Equitable Trust Co. owned approximately 0.05% of Crown Castle worth $21,547,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV lifted 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 in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Crown Castle by 24.0% in the third quarter. Harbor Capital Advisors Inc. now owns 599 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 116 shares in the last quarter. NewSquare Capital LLC boosted its stake in Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 120 shares during the period. Golden State Equity Partners grew its position in Crown Castle by 2.8% during the third quarter. Golden State Equity Partners now owns 4,567 shares of the real estate investment trust’s stock worth $441,000 after buying an additional 123 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its stake in Crown Castle by 6.3% in the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,103 shares of the real estate investment trust’s stock worth $216,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 1.8%

CCI opened at $88.02 on Monday. Crown Castle Inc. has a 12 month low of $77.01 and a 12 month high of $115.76. The business’s 50-day moving average price is $87.06 and its 200-day moving average price is $92.27. The company has a market cap of $38.33 billion, a P/E ratio of 87.15, a P/E/G ratio of 0.45 and a beta of 0.96.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CCI. Zacks Research downgraded Crown Castle from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Barclays dropped their target price on shares of Crown Castle from $101.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 17th. Wells Fargo & Company cut their price target 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. Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a research report on Monday, December 29th. Finally, Raymond James Financial cut 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 report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.