CIBC Asset Management Inc Grows Holdings in Crown Castle Inc. (NYSE:CCI)

CIBC Asset Management Inc grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 4.5% in the fourth quarter, Holdings Channel reports. The firm owned 66,920 shares of the real estate investment trust’s stock after acquiring an additional 2,873 shares during the period. CIBC Asset Management Inc’s holdings in Crown Castle were worth $6,074,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Malaga Cove Capital LLC grew its holdings in Crown Castle by 1.8% during the third quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock worth $658,000 after acquiring an additional 100 shares during the period. Napa Wealth Management boosted its stake in Crown Castle by 4.6% during the 3rd quarter. Napa Wealth Management now owns 2,765 shares of the real estate investment trust’s stock worth $328,000 after purchasing an additional 122 shares during the last quarter. Accurate Wealth Management LLC increased its holdings in shares of Crown Castle by 5.4% in the fourth quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 124 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Crown Castle by 12.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 126 shares during the last quarter. Finally, MCF Advisors LLC boosted its holdings in Crown Castle by 2.1% in the 3rd quarter. MCF Advisors LLC now owns 6,200 shares of the real estate investment trust’s stock valued at $736,000 after purchasing an additional 130 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on CCI shares. Scotiabank cut their target price on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research note on Thursday, January 23rd. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Citigroup cut their price objective on Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. JMP Securities initiated coverage on Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective for the company. Finally, Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $117.00 to $104.00 in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $108.75.

Crown Castle Price Performance

Crown Castle stock opened at $89.27 on Thursday. The business has a 50 day simple moving average of $90.00 and a 200-day simple moving average of $103.28. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $38.80 billion, a PE ratio of 31.65 and a beta of 0.88.

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.