State of New Jersey Common Pension Fund D Purchases 7,876 Shares of Crown Castle Inc. $CCI

State of New Jersey Common Pension Fund D boosted its position in Crown Castle Inc. (NYSE:CCI) by 5.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,812 shares of the real estate investment trust’s stock after purchasing an additional 7,876 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Crown Castle were worth $14,552,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Winnow Wealth LLC bought a new stake in shares of Crown Castle in the second quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Crown Castle in the 2nd quarter worth about $27,000. NewSquare Capital LLC boosted its holdings in 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 period. Creative Financial Designs Inc. ADV boosted 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 purchasing an additional 98 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of Crown Castle during the 3rd quarter worth approximately $29,000. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Crown Castle in a research note on Monday, December 29th. Scotiabank dropped their price objective on Crown Castle from $96.00 to $94.00 and set a “sector perform” rating for the company in a report on Thursday, February 5th. Jefferies Financial Group reduced their target price on Crown Castle from $90.00 to $84.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. HSBC decreased their price target on Crown Castle from $107.00 to $88.40 and set a “hold” rating on the stock in a research report on Thursday, February 5th. Finally, Zacks Research cut shares of Crown Castle from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $100.61.

Crown Castle Stock Up 3.1%

Shares of CCI stock opened at $90.55 on Tuesday. The business has a fifty day simple moving average of $87.26 and a 200 day simple moving average of $92.77. The company has a market cap of $39.43 billion, a P/E ratio of 89.66, a P/E/G ratio of 0.46 and a beta of 0.96. Crown Castle Inc. has a twelve month low of $77.01 and a twelve month high of $115.76.

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.