Crown Castle Inc. (NYSE:CCI) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 2.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 228,069 shares of the real estate investment trust’s stock after selling 6,101 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Crown Castle were worth $20,700,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in CCI. Wellington Management Group LLP increased its holdings in shares of Crown Castle by 23.8% in the third 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Crown Castle by 433.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock valued at $470,838,000 after purchasing an additional 3,225,460 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Crown Castle by 13,271.6% in the third quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock valued at $115,449,000 after purchasing an additional 965,907 shares during the period. State Street Corp increased its holdings in shares of Crown Castle by 3.7% in 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 during the period. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Crown Castle by 25.4% in the third quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock valued at $375,610,000 after purchasing an additional 642,010 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Down 1.9 %

CCI opened at $88.15 on Friday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The business’s fifty day moving average is $90.70 and its two-hundred day moving average is $103.81. The company has a market cap of $38.31 billion, a price-to-earnings ratio of 31.26 and a beta of 0.88.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CCI shares. Deutsche Bank Aktiengesellschaft dropped their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company dropped their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Royal Bank of Canada upped their price objective on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Moffett Nathanson dropped their price objective on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Finally, Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus price target of $108.75.

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.