Crown Castle Inc. $CCI Shares Newly Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Crown Castle Inc. (NYSE:CCI – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 121,507 shares of the real estate investment trust’s stock, valued at approximately $8,098,000.

Other large investors have also recently made changes to their positions in the company. Front Row Advisors LLC boosted its position in shares of Crown Castle by 1.4% during the 1st quarter. Front Row Advisors LLC now owns 9,305 shares of the real estate investment trust’s stock worth $757,000 after purchasing an additional 130 shares during the period. Linscomb Wealth Inc. lifted its stake in Crown Castle by 0.3% during the second quarter. Linscomb Wealth Inc. now owns 53,512 shares of the real estate investment trust’s stock worth $4,052,000 after purchasing an additional 145 shares in the last quarter. World Investment Advisors lifted its stake in Crown Castle by 2.0% during the first quarter. World Investment Advisors now owns 7,882 shares of the real estate investment trust’s stock worth $641,000 after purchasing an additional 153 shares in the last quarter. Everhart Financial Group Inc. boosted its position in shares of Crown Castle by 2.7% during the second quarter. Everhart Financial Group Inc. now owns 5,856 shares of the real estate investment trust’s stock worth $443,000 after buying an additional 153 shares during the period. Finally, Mirador Capital Partners LP boosted its position in shares of Crown Castle by 2.1% during the third quarter. Mirador Capital Partners LP now owns 8,512 shares of the real estate investment trust’s stock worth $567,000 after buying an additional 177 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Crown Castle

In other Crown Castle news, VP Robert Collins sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $75.89, for a total transaction of $113,835.00. Following the completion of the transaction, the vice president owned 5,113 shares in the company, valued at $388,025.57. The trade was a 22.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CCI has been the topic of several research analyst reports. Truist Financial cut their price objective on Crown Castle from $95.00 to $87.00 and set a “hold” rating on the stock in a report on Tuesday, July 28th. Royal Bank Of Canada lowered their target price on Crown Castle from $92.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. BMO Capital Markets dropped their target price on Crown Castle to $93.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Barclays boosted their price target on shares of Crown Castle from $84.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 30th. Finally, JPMorgan Chase & Co. cut shares of Crown Castle from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $85.00 to $80.00 in a research report on Monday, September 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Crown Castle presently has a consensus rating of “Moderate Buy” and an average price target of $94.27.

Check Out Our Latest Research Report on CCI

Crown Castle Stock Performance

Shares of CCI opened at $92.20 on Thursday. The stock has a 50-day simple moving average of $76.53 and a 200-day simple moving average of $82.26. The stock has a market capitalization of $39.23 billion, a PE ratio of 48.53, a PEG ratio of 0.76 and a beta of 0.88. Crown Castle Inc. has a 1 year low of $65.32 and a 1 year high of $95.07.

Crown Castle (NYSE:CCI – Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). Crown Castle had a negative return on equity of 42.11% and a net margin of 20.12%. The company had revenue of $995.00 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm posted $1.12 earnings per share. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. Analysts predict that Crown Castle Inc. will post 4.40 EPS for the current year.

About Crown Castle

(Free Report)

Crown Castle Inc (NYSE: CCI) is a real estate investment trust that owns, operates and leases communications infrastructure in the United States. Its assets support wireless carriers, broadcasters, government agencies and other communications providers by enabling the transmission of voice, data and video services.

The company’s infrastructure has historically included approximately 40,000 cell towers, about 90,000 route miles of fiber and a large portfolio of small-cell installations.

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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