Reaves W H & Co. Inc. Purchases New Shares in Crown Castle Inc. $CCI

Reaves W H & Co. Inc. bought a new position in Crown Castle Inc. (NYSE:CCI) during the third quarter, Holdings Channel reports. The fund bought 328,217 shares of the real estate investment trust’s stock, valued at approximately $31,670,000.

A number of other hedge funds have also recently made changes to their positions in CCI. Winnow Wealth LLC bought a new stake in Crown Castle in the second quarter worth $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in Crown Castle in the 2nd quarter worth about $27,000. NewSquare Capital LLC lifted its position in Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in shares of Crown Castle by 47.8% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 98 shares during the period. Finally, LRI Investments LLC purchased a new stake in Crown Castle during the third quarter valued at $29,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Up 2.7%

Shares of NYSE:CCI opened at $83.10 on Tuesday. The company has a market capitalization of $36.19 billion, a PE ratio of 82.28, a P/E/G ratio of 0.41 and a beta of 0.96. The business’s fifty day simple moving average is $87.37 and its 200-day simple moving average is $93.49. Crown Castle Inc. has a 12-month low of $77.01 and a 12-month high of $115.76.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CCI. Royal Bank Of Canada reduced their target price on shares of Crown Castle from $112.00 to $110.00 and set an “outperform” rating for the company in a report on Monday, January 12th. UBS Group dropped their price objective on Crown Castle from $116.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. New Street Research lowered shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a research report on Monday, January 5th. Zacks Research lowered Crown Castle from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Finally, Wells Fargo & Company lowered their price objective on shares of Crown Castle from $105.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Crown Castle currently has an average rating of “Hold” and a consensus price target of $100.61.

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.