Sumitomo Mitsui Trust Group Inc. Purchases 15,141 Shares of Crown Castle Inc. (NYSE:CCI)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 879,562 shares of the real estate investment trust’s stock after buying an additional 15,141 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Crown Castle were worth $79,829,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after purchasing an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Crown Castle by 433.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock valued at $470,838,000 after buying an additional 3,225,460 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Crown Castle by 13,271.6% during the 3rd quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock worth $115,449,000 after acquiring an additional 965,907 shares during the last quarter. State Street Corp grew its position in Crown Castle by 3.7% in the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after acquiring an additional 747,390 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Crown Castle by 25.4% in the third quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock valued at $375,610,000 after acquiring an additional 642,010 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Trading Down 0.7 %

NYSE CCI opened at $89.57 on Monday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market cap of $38.93 billion, a P/E ratio of 31.76 and a beta of 0.88. The stock has a 50 day simple moving average of $92.10 and a two-hundred day simple moving average of $104.39. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92.

Analyst Ratings Changes

Several equities research analysts have issued reports on CCI shares. Deutsche Bank Aktiengesellschaft dropped their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. UBS Group increased their price target on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $117.00 to $104.00 in a report on Monday, January 13th. Royal Bank of Canada increased their target price on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company lowered their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Crown Castle currently has an average rating of “Hold” and a consensus price target of $110.13.

Crown Castle Profile

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.