Caisse Des Depots ET Consignations Has $1.73 Million Holdings in Crown Castle Inc. $CCI

Caisse Des Depots ET Consignations lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 37.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 17,919 shares of the real estate investment trust’s stock after selling 10,735 shares during the period. Caisse Des Depots ET Consignations’ holdings in Crown Castle were worth $1,729,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CCI. Norges Bank acquired a new stake in Crown Castle in the 2nd quarter worth approximately $629,431,000. Lazard Asset Management LLC raised its position in shares of Crown Castle by 3,051.5% in the second quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock valued at $562,221,000 after purchasing an additional 5,299,155 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Crown Castle by 33.9% in the second quarter. JPMorgan Chase & Co. now owns 3,657,030 shares of the real estate investment trust’s stock worth $375,697,000 after buying an additional 926,721 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Crown Castle by 15,241.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 757,891 shares of the real estate investment trust’s stock worth $77,858,000 after buying an additional 752,951 shares during the period. Finally, Natixis boosted its holdings in shares of Crown Castle by 142.1% during the 2nd quarter. Natixis now owns 1,141,442 shares of the real estate investment trust’s stock worth $117,260,000 after buying an additional 670,055 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of CCI stock opened at $86.16 on Thursday. Crown Castle Inc. has a one year low of $77.01 and a one year high of $115.76. The stock has a fifty day moving average price of $87.25 and a 200 day moving average price of $93.25. The stock has a market cap of $37.52 billion, a P/E ratio of 85.31, a price-to-earnings-growth ratio of 0.43 and a beta of 0.96.

Analyst Ratings Changes

CCI has been the subject of a number of research analyst reports. HSBC cut their target price on shares of Crown Castle from $107.00 to $88.40 and set a “hold” rating for the company in a research report on Thursday, February 5th. UBS Group dropped their price objective on Crown Castle from $116.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a research note on Monday, December 29th. KeyCorp lowered their target price on Crown Castle from $115.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Finally, Wolfe Research lowered Crown Castle from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Crown Castle currently has a consensus rating of “Hold” and a consensus target price of $100.61.

Crown Castle Company 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.