Van ECK Associates Corp Decreases Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Van ECK Associates Corp lowered its holdings in Crown Castle Inc. (NYSE:CCI) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,296 shares of the real estate investment trust’s stock after selling 30,599 shares during the period. Van ECK Associates Corp’s holdings in Crown Castle were worth $11,554,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CCI. AMF Tjanstepension AB increased its holdings in Crown Castle by 11.7% during the third quarter. AMF Tjanstepension AB now owns 166,922 shares of the real estate investment trust’s stock worth $19,835,000 after buying an additional 17,524 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Crown Castle during the 3rd quarter worth approximately $120,000. Global Retirement Partners LLC raised its holdings in shares of Crown Castle by 13.9% in the 3rd quarter. Global Retirement Partners LLC now owns 6,000 shares of the real estate investment trust’s stock worth $712,000 after purchasing an additional 732 shares during the period. Bleakley Financial Group LLC lifted its stake in Crown Castle by 1.8% in 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 purchasing an additional 117 shares during the last quarter. Finally, Trust Co. of Vermont grew its holdings in Crown Castle by 20.2% during the third quarter. Trust Co. of Vermont now owns 1,232 shares of the real estate investment trust’s stock valued at $146,000 after purchasing an additional 207 shares during the period. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

CCI has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price target on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. JMP Securities began coverage on shares of Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 target price for the company. Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Citigroup cut their price objective on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a report on Thursday. Finally, Royal Bank of Canada boosted 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $108.75.

Crown Castle Stock Performance

NYSE:CCI opened at $88.15 on Friday. The stock has a market cap of $38.31 billion, a P/E ratio of 31.26 and a beta of 0.88. 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 business’s 50-day moving average price is $90.70 and its two-hundred day moving average price is $103.81. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92.

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.