Wealthfront Advisers LLC Has $15.12 Million Holdings in Crown Castle Inc. $CCI

Wealthfront Advisers LLC trimmed its stake in Crown Castle Inc. (NYSE:CCI) by 12.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,725 shares of the real estate investment trust’s stock after selling 22,561 shares during the period. Wealthfront Advisers LLC’s holdings in Crown Castle were worth $15,122,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Crown Castle by 15.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,963 shares of the real estate investment trust’s stock valued at $6,847,000 after purchasing an additional 9,552 shares during the last quarter. Country Club Bank grew its stake in Crown Castle by 20.1% during the third quarter. Country Club Bank now owns 70,778 shares of the real estate investment trust’s stock worth $6,808,000 after buying an additional 11,851 shares during the last quarter. Cooke & Bieler LP increased its holdings in shares of Crown Castle by 6.1% during the third quarter. Cooke & Bieler LP now owns 2,419,034 shares of the real estate investment trust’s stock worth $233,413,000 after buying an additional 138,061 shares in the last quarter. Miller Howard Investments Inc. NY acquired a new stake in shares of Crown Castle during the third quarter worth approximately $2,578,000. Finally, National Pension Service raised its stake in shares of Crown Castle by 3.5% in the third quarter. National Pension Service now owns 656,795 shares of the real estate investment trust’s stock valued at $63,374,000 after acquiring an additional 21,986 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

NYSE CCI opened at $84.64 on Wednesday. The stock has a market capitalization of $36.86 billion, a P/E ratio of 83.80, a price-to-earnings-growth ratio of 0.42 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 stock has a fifty day moving average of $87.29 and a 200-day moving average of $93.30.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CCI. Raymond James Financial decreased their price target on Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 23rd. UBS Group reduced their price objective on Crown Castle from $116.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. JPMorgan Chase & Co. decreased their target price on Crown Castle from $110.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Royal Bank Of Canada cut their price target on Crown Castle from $112.00 to $110.00 and set an “outperform” rating for the company in a report on Monday, January 12th. Finally, The Goldman Sachs Group reduced their price target on shares of Crown Castle from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $100.61.

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.