Crown Castle Inc. $CCI Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in Crown Castle Inc. (NYSE:CCI) by 0.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,382,660 shares of the real estate investment trust’s stock after purchasing an additional 92,279 shares during the period. Vanguard Group Inc. owned about 15.93% of Crown Castle worth $6,694,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on CCI shares. Weiss Ratings reissued a “sell (d)” rating on shares of Crown Castle in a report on Monday, December 29th. Citigroup lowered their price objective on Crown Castle from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. KeyCorp cut their target price on Crown Castle from $115.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. The Goldman Sachs Group lowered their price target on Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Finally, JPMorgan Chase & Co. dropped their price target 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. One 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $100.61.

Crown Castle Stock Up 3.1%

Shares of NYSE CCI opened at $90.55 on Tuesday. The stock 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. Crown Castle Inc. has a 52-week low of $77.01 and a 52-week high of $115.76. The business has a 50-day moving average price of $87.26 and a 200 day moving average price of $92.77.

About Crown Castle

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.