Van ECK Associates Corp Sells 30,599 Shares of Crown Castle Inc. (NYSE:CCI)

Van ECK Associates Corp lowered its position in shares of Crown Castle Inc. (NYSE:CCI) by 19.4% in the 4th quarter, HoldingsChannel reports. The firm owned 127,296 shares of the real estate investment trust’s stock after selling 30,599 shares during the quarter. Van ECK Associates Corp’s holdings in Crown Castle were worth $11,554,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new stake in Crown Castle in the 3rd quarter worth approximately $25,000. Rosenberg Matthew Hamilton raised its stake in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 136 shares in the last quarter. FNY Investment Advisers LLC lifted its holdings in shares of Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 300 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Crown Castle in the 3rd quarter valued at $47,000. Finally, Friedenthal Financial bought a new position in shares of Crown Castle during the 3rd quarter valued at $50,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Citigroup lowered their price target on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday. Scotiabank dropped their target price on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and dropped their price objective for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company decreased their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $108.75.

Crown Castle Price Performance

CCI stock opened at $88.15 on Friday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The firm has a 50-day moving average of $90.70 and a 200 day moving average of $103.81. The company has a market cap of $38.31 billion, a P/E ratio of 31.26 and a beta of 0.88.

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.