Boston Financial Mangement LLC Cuts Stake in Crown Castle Inc. (NYSE:CCI)

Boston Financial Mangement LLC lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 19.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,784 shares of the real estate investment trust’s stock after selling 6,515 shares during the quarter. Boston Financial Mangement LLC’s holdings in Crown Castle were worth $2,522,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CCI. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle during the 3rd quarter valued at about $25,000. Rosenberg Matthew Hamilton boosted its holdings in shares of 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 acquiring an additional 136 shares during the last quarter. FNY Investment Advisers LLC boosted its holdings in shares of Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 300 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of Crown Castle during the 4th quarter valued at about $37,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Crown Castle during the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $91.29 on Friday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a market capitalization of $39.67 billion, a P/E ratio of 32.37 and a beta of 0.88. The firm’s 50 day simple moving average is $89.85 and its two-hundred day simple moving average is $103.20.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CCI shares. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Royal Bank of Canada raised their price target 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. Moffett Nathanson dropped their price objective on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Scotiabank dropped their price objective on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $108.75.

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.