Adell Harriman & Carpenter Inc. Sells 697 Shares of Crown Castle Inc. (NYSE:CCI)

Adell Harriman & Carpenter Inc. cut its stake in Crown Castle Inc. (NYSE:CCI) by 14.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,052 shares of the real estate investment trust’s stock after selling 697 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Crown Castle were worth $368,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CCI. State Street Corp increased its stake in shares of Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Wellington Management Group LLP grew its position in Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after purchasing an additional 3,371,186 shares during the last quarter. Geode Capital Management LLC increased its stake in Crown Castle by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after purchasing an additional 151,990 shares in the last quarter. Barclays PLC raised its holdings in Crown Castle by 7.2% in the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after acquiring an additional 348,296 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after purchasing an additional 203,442 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CCI. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Royal Bank of Canada upped their target price on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. JMP Securities assumed coverage on Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target for the company. Moffett Nathanson reduced their price objective on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $108.75.

Crown Castle Price Performance

CCI stock opened at $88.15 on Friday. The stock has a market cap of $38.31 billion, a PE ratio of 31.26 and a beta of 0.88. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a 50-day moving average price of $90.98 and a 200 day moving average price of $103.95. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.