15,360 Shares in Crown Castle Inc. (NYSE:CCI) Acquired by ABC Arbitrage SA

ABC Arbitrage SA bought a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 15,360 shares of the real estate investment trust’s stock, valued at approximately $1,394,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CCI. AMF Tjanstepension AB boosted its stake in Crown Castle by 11.7% in the 3rd quarter. AMF Tjanstepension AB now owns 166,922 shares of the real estate investment trust’s stock worth $19,835,000 after purchasing an additional 17,524 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Crown Castle during the 3rd quarter worth about $120,000. Global Retirement Partners LLC lifted its stake in Crown Castle by 13.9% in the 3rd quarter. Global Retirement Partners LLC now owns 6,000 shares of the real estate investment trust’s stock valued at $712,000 after purchasing an additional 732 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in Crown Castle by 1.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,554 shares of the real estate investment trust’s stock valued at $777,000 after purchasing an additional 117 shares during the last quarter. Finally, Trust Co. of Vermont lifted its stake in Crown Castle by 20.2% in the 3rd quarter. Trust Co. of Vermont now owns 1,232 shares of the real estate investment trust’s stock valued at $146,000 after purchasing an additional 207 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

NYSE CCI opened at $88.15 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market capitalization of $38.31 billion, a price-to-earnings ratio of 31.26 and a beta of 0.88. The firm’s 50 day simple moving average is $90.70 and its 200 day simple moving average is $103.81. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Analyst Upgrades and Downgrades

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

About Crown Castle

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.