Rhumbline Advisers Cuts Stake in Crown Castle Inc. (NYSE:CCI)

Rhumbline Advisers reduced its stake in Crown Castle Inc. (NYSE:CCI) by 1.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 900,493 shares of the real estate investment trust’s stock after selling 10,735 shares during the quarter. Rhumbline Advisers owned 0.21% of Crown Castle worth $81,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CCI. Malaga Cove Capital LLC raised its stake in shares of Crown Castle by 1.8% during the third quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock valued at $658,000 after acquiring an additional 100 shares during the last quarter. Bleakley Financial Group LLC raised its stake in shares of Crown Castle by 1.8% during the third quarter. Bleakley Financial Group LLC now owns 6,554 shares of the real estate investment trust’s stock valued at $777,000 after acquiring an additional 117 shares during the last quarter. New Century Financial Group LLC raised its stake in shares of Crown Castle by 4.8% during the third quarter. New Century Financial Group LLC now owns 2,645 shares of the real estate investment trust’s stock valued at $314,000 after acquiring an additional 122 shares during the last quarter. Napa Wealth Management raised its stake in shares of Crown Castle by 4.6% during the third quarter. Napa Wealth Management now owns 2,765 shares of the real estate investment trust’s stock valued at $328,000 after acquiring an additional 122 shares during the last quarter. Finally, Leo Wealth LLC raised its stake in shares of Crown Castle by 0.3% during the third quarter. Leo Wealth LLC now owns 35,763 shares of the real estate investment trust’s stock valued at $4,243,000 after acquiring an additional 123 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Trading Down 1.9 %

NYSE:CCI opened at $88.15 on Friday. The company’s 50 day moving average price is $90.70 and its 200-day moving average price is $103.81. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market cap of $38.31 billion, a price-to-earnings ratio of 31.26 and a beta of 0.88.

Analysts Set New Price Targets

CCI has been the subject of several recent analyst reports. Moffett Nathanson lowered their price objective on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Citigroup decreased their price target on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday. Finally, JMP Securities started coverage on shares of Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $108.75.

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.