Crown Castle Inc. $CCI Shares Acquired by Compass Wealth Management LLC

Compass Wealth Management LLC increased its position in shares of Crown Castle Inc. (NYSE:CCI) by 10.5% during the third quarter, Holdings Channel reports. The institutional investor owned 64,373 shares of the real estate investment trust’s stock after buying an additional 6,093 shares during the quarter. Compass Wealth Management LLC’s holdings in Crown Castle were worth $6,211,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Crown Castle by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 69,290,381 shares of the real estate investment trust’s stock worth $7,118,201,000 after acquiring an additional 449,776 shares in the last quarter. State Street Corp grew its stake in shares of Crown Castle by 0.5% during the second quarter. State Street Corp now owns 21,461,578 shares of the real estate investment trust’s stock worth $2,204,748,000 after purchasing an additional 110,050 shares in the last quarter. Norges Bank acquired a new position in shares of Crown Castle during the second quarter worth $629,431,000. Bank of America Corp DE increased its holdings in Crown Castle by 2.2% in the second quarter. Bank of America Corp DE now owns 5,534,066 shares of the real estate investment trust’s stock valued at $568,515,000 after buying an additional 117,904 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in 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 buying an additional 5,299,155 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 1.2%

Shares of CCI stock opened at $86.36 on Friday. The stock has a market capitalization of $37.61 billion, a PE ratio of 85.50, a price-to-earnings-growth ratio of 0.44 and a beta of 0.96. Crown Castle Inc. has a 52-week low of $77.01 and a 52-week high of $115.76. The stock’s 50-day moving average price is $87.12 and its 200 day moving average price is $92.58.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CCI. Royal Bank Of Canada lowered their price objective on Crown Castle from $112.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, January 12th. KeyCorp lowered their price target on Crown Castle from $115.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. BMO Capital Markets dropped their price target on shares of Crown Castle from $97.00 to $91.00 and set an “outperform” rating on the stock in a research note on Thursday, February 5th. The Goldman Sachs Group reduced their price objective on shares of Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Finally, New Street Research downgraded shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $100.02.

About Crown Castle

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.