Bell Bank Invests $5.82 Million in Crown Castle Inc. (NYSE:CCI)

Bell Bank acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 64,073 shares of the real estate investment trust’s stock, valued at approximately $5,815,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CCI. Hudson Edge Investment Partners Inc. bought a new position in shares of Crown Castle in the 4th quarter valued at about $232,000. Paradigm Asset Management Co. LLC purchased a new stake in Crown Castle during the fourth quarter valued at approximately $127,000. ING Groep NV lifted its stake in shares of Crown Castle by 167.6% in the 4th quarter. ING Groep NV now owns 155,507 shares of the real estate investment trust’s stock valued at $14,114,000 after purchasing an additional 97,388 shares during the last quarter. Morningstar Investment Management LLC boosted its holdings in shares of Crown Castle by 22.7% in the 4th quarter. Morningstar Investment Management LLC now owns 5,304 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 982 shares during the period. Finally, Handelsbanken Fonder AB increased its position in shares of Crown Castle by 8.0% during the 4th quarter. Handelsbanken Fonder AB now owns 236,300 shares of the real estate investment trust’s stock valued at $21,447,000 after purchasing an additional 17,427 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Moffett Nathanson dropped their price objective on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Scotiabank dropped their price target on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research note on Thursday, January 23rd. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Wells Fargo & Company dropped their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. Finally, Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and reduced their price target for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. One research 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $108.75.

Crown Castle Price Performance

Shares of CCI opened at $92.21 on Friday. The stock has a market capitalization of $40.07 billion, a PE ratio of 32.70 and a beta of 0.88. The company has a 50 day moving average price of $89.75 and a 200-day moving average price of $103.07. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week 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.