Rhumbline Advisers Cuts Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Rhumbline Advisers lowered its stake in Crown Castle Inc. (NYSE:CCI) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 900,493 shares of the real estate investment trust’s stock after selling 10,735 shares during the quarter. Rhumbline Advisers’ holdings in Crown Castle were worth $81,729,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. Wellington Management Group LLP boosted its holdings in 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 worth $2,079,417,000 after purchasing an additional 3,371,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 worth $470,838,000 after purchasing an additional 3,225,460 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in 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 worth $115,449,000 after purchasing an additional 965,907 shares during the last quarter. State Street Corp boosted its holdings in 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 worth $2,476,470,000 after purchasing an additional 747,390 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in 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 worth $375,610,000 after purchasing an additional 642,010 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CCI. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and decreased their price target for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Wells Fargo & Company decreased their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, JMP Securities began coverage on shares of Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $108.75.

Crown Castle Stock Performance

CCI opened at $88.15 on Friday. The stock has a market capitalization of $38.31 billion, a price-to-earnings ratio of 31.26 and a beta of 0.88. The company has a fifty day moving average of $90.70 and a 200 day moving average of $103.81. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. 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 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.