Waverly Advisors LLC lifted its stake in shares of Crown Castle Inc. (NYSE:CCI – Free Report) by 9.1% in the first quarter, Holdings Channel reports. The institutional investor owned 93,635 shares of the real estate investment trust’s stock after buying an additional 7,848 shares during the quarter. Waverly Advisors LLC’s holdings in Crown Castle were worth $7,613,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Wiser Advisor Group LLC acquired a new stake in Crown Castle in the third quarter valued at $29,000. Hilton Head Capital Partners LLC grew its holdings in Crown Castle by 55.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 134 shares in the last quarter. Triumph Capital Management bought a new stake in shares of Crown Castle in the 3rd quarter worth about $31,000. Global Assets Advisory LLC bought a new stake in shares of Crown Castle in the 1st quarter worth about $32,000. Finally, Salomon & Ludwin LLC raised its stake in shares of Crown Castle by 128.7% in the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 215 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.
Crown Castle Stock Down 1.0%
Shares of NYSE:CCI opened at $74.16 on Tuesday. Crown Castle Inc. has a fifty-two week low of $73.52 and a fifty-two week high of $112.75. The firm has a 50-day simple moving average of $84.07 and a 200 day simple moving average of $85.63. The company has a market cap of $32.37 billion, a PE ratio of 37.64, a P/E/G ratio of 0.40 and a beta of 0.95.
Crown Castle Announces Dividend
Analysts Set New Price Targets
A number of equities analysts recently commented on CCI shares. Raymond James Financial lifted their price target on Crown Castle from $102.00 to $108.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 23rd. BMO Capital Markets increased their target price on Crown Castle from $91.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. JPMorgan Chase & Co. decreased their target price on Crown Castle from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, July 23rd. Citigroup reiterated a “market outperform” rating on shares of Crown Castle in a report on Friday. Finally, Scotiabank dropped their price target on Crown Castle from $94.00 to $91.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.92.
View Our Latest Stock Report on CCI
Crown Castle 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.
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