Lyell Wealth Management LP Sells 7,468 Shares of Crown Castle Inc. $CCI

Lyell Wealth Management LP lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 40.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 10,830 shares of the real estate investment trust’s stock after selling 7,468 shares during the quarter. Lyell Wealth Management LP’s holdings in Crown Castle were worth $1,045,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Crown Castle by 0.7% during the second quarter. Vanguard Group Inc. now owns 69,290,381 shares of the real estate investment trust’s stock worth $7,118,201,000 after acquiring an additional 449,776 shares during the period. State Street Corp lifted its holdings in Crown Castle by 0.5% during the 2nd quarter. State Street Corp now owns 21,461,578 shares of the real estate investment trust’s stock worth $2,204,748,000 after purchasing an additional 110,050 shares during the last quarter. Norges Bank bought a new stake in Crown Castle in the 2nd quarter valued at $629,431,000. Bank of America Corp DE boosted its stake in Crown Castle by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 5,534,066 shares of the real estate investment trust’s stock valued at $568,515,000 after purchasing an additional 117,904 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in Crown Castle by 3,051.5% in the 2nd quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock valued at $562,221,000 after buying an additional 5,299,155 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CCI. Barclays reiterated an “equal weight” rating and issued a $101.00 price target (down from $104.00) on shares of Crown Castle in a research note on Monday, December 1st. Wolfe Research lowered Crown Castle from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. HSBC dropped their price target on Crown Castle from $107.00 to $88.40 and set a “hold” rating for the company in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crown Castle in a research report on Monday, December 29th. Finally, Wells Fargo & Company decreased their target price on shares of Crown Castle from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Crown Castle has an average rating of “Hold” and a consensus price target of $100.61.

Crown Castle Stock Up 3.1%

NYSE CCI opened at $90.55 on Friday. The company has a market cap of $39.43 billion, a price-to-earnings ratio of 89.66, a price-to-earnings-growth ratio of 0.44 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. The business’s fifty day moving average is $87.26 and its 200 day moving average is $93.08.

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.