Citigroup Inc. Boosts Holdings in Crown Castle Inc. $CCI

Citigroup Inc. grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 1.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 665,188 shares of the real estate investment trust’s stock after acquiring an additional 7,517 shares during the period. Citigroup Inc.’s holdings in Crown Castle were worth $64,184,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Creative Financial Designs Inc. ADV increased its position in Crown Castle by 47.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 98 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Crown Castle by 24.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 599 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 116 shares during the period. NewSquare Capital LLC grew its stake in shares of Crown Castle by 74.5% during the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 120 shares during the period. Golden State Equity Partners increased its holdings in Crown Castle by 2.8% in the 3rd quarter. Golden State Equity Partners now owns 4,567 shares of the real estate investment trust’s stock worth $441,000 after acquiring an additional 123 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its stake in Crown Castle by 6.3% in the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,103 shares of the real estate investment trust’s stock valued at $216,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

CCI has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on shares of Crown Castle from $110.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. KeyCorp reduced their price target on Crown Castle from $115.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Crown Castle in a research note on Monday, December 29th. HSBC dropped their price objective on Crown Castle from $107.00 to $88.40 and set a “hold” rating on the stock in a report on Thursday, February 5th. Finally, Jefferies Financial Group reduced their target price on Crown Castle from $90.00 to $84.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $100.02.

Crown Castle Trading Down 0.5%

CCI stock opened at $87.58 on Tuesday. Crown Castle Inc. has a 1-year low of $77.01 and a 1-year high of $115.76. The stock has a market cap of $38.14 billion, a price-to-earnings ratio of 86.71, a price-to-earnings-growth ratio of 0.45 and a beta of 0.96. The company’s 50 day moving average is $87.02 and its 200 day moving average is $92.14.

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.