Naples Global Advisors LLC Decreases Stock Position in Crown Castle Inc. (NYSE:CCI)

Naples Global Advisors LLC lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 1.9% in the 4th quarter, Holdings Channel reports. The firm owned 40,328 shares of the real estate investment trust’s stock after selling 795 shares during the period. Naples Global Advisors LLC’s holdings in Crown Castle were worth $3,660,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB grew its holdings in Crown Castle by 29.4% during the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after buying an additional 282,821 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Crown Castle by 24.7% in the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after purchasing an additional 31,319 shares in the last quarter. Oak Thistle LLC bought a new stake in Crown Castle in the fourth quarter worth $1,231,000. Avanza Fonder AB purchased a new stake in Crown Castle during the fourth quarter valued at $3,083,000. Finally, Fisher Asset Management LLC lifted its position in Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after purchasing an additional 203,442 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Crown Castle stock opened at $89.81 on Thursday. 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 cap of $39.03 billion, a price-to-earnings ratio of 31.85 and a beta of 0.88. The firm has a 50-day moving average of $91.51 and a two-hundred day moving average of $104.15. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CCI shares. TD Cowen reduced their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. JMP Securities started coverage on Crown Castle in a research note on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective on the stock. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $117.00 to $104.00 in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft cut their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, UBS Group raised their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Crown Castle presently has an average rating of “Hold” and an average target price of $110.13.

Crown Castle Company 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.