4,457 Shares in Crown Castle Inc. (NYSE:CCI) Acquired by Econ Financial Services Corp

Econ Financial Services Corp acquired a new stake in Crown Castle Inc. (NYSE:CCI) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 4,457 shares of the real estate investment trust’s stock, valued at approximately $405,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new position in shares of Crown Castle during the third quarter valued at $25,000. Rosenberg Matthew Hamilton lifted its position in Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 136 shares during the period. FNY Investment Advisers LLC boosted its stake in shares of Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Crown Castle during the 3rd quarter worth approximately $47,000. Finally, Friedenthal Financial acquired a new stake in shares of Crown Castle during the 3rd quarter worth approximately $50,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $88.62 on Wednesday. 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 firm has a market cap of $38.51 billion, a price-to-earnings ratio of 31.42 and a beta of 0.88. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The stock’s 50-day moving average is $93.10 and its 200-day moving average is $104.69.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $117.00 to $104.00 in a research note on Monday, January 13th. 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. JMP Securities assumed coverage on Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective for the company. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and cut their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada boosted their target price on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $110.13.

About Crown Castle

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.