Fisher Funds Management LTD Acquires Shares of 179,064 Crown Castle Inc. (NYSE:CCI)

Fisher Funds Management LTD bought a new position in shares of Crown Castle Inc. (NYSE:CCI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 179,064 shares of the real estate investment trust’s stock, valued at approximately $16,143,000.

A number of other large investors have also modified their holdings of the business. Nordea Investment Management AB boosted its position in Crown Castle by 29.4% during the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after acquiring an additional 282,821 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Crown Castle by 24.7% during the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after purchasing an additional 31,319 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Crown Castle in the fourth quarter valued at approximately $1,231,000. Avanza Fonder AB acquired a new stake in shares of Crown Castle in the fourth quarter valued at approximately $3,083,000. Finally, Fisher Asset Management LLC lifted its position in Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after buying an additional 203,442 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CCI. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. 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 reduced their target price on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 23rd. Citigroup decreased their target price on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $117.00 to $104.00 in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $108.75.

Crown Castle Trading Up 1.1 %

CCI opened at $92.21 on Friday. 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 business has a fifty day simple moving average of $89.75 and a 200-day simple moving average of $103.00. The firm has a market cap of $40.07 billion, a P/E ratio of 32.70 and a beta of 0.88.

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.