Global Wealth Management Investment Advisory Inc. Buys Shares of 34,570 Crown Castle Inc. (NYSE:CCI)

Global Wealth Management Investment Advisory Inc. purchased a new position in Crown Castle Inc. (NYSE:CCI) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 34,570 shares of the real estate investment trust’s stock, valued at approximately $3,138,000.

A number of other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in Crown Castle by 23.8% during the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after buying an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Crown Castle by 433.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock valued at $470,838,000 after purchasing an additional 3,225,460 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Crown Castle by 13,271.6% during the third quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock worth $115,449,000 after buying an additional 965,907 shares in the last quarter. State Street Corp grew its position in Crown Castle by 3.7% in the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after buying an additional 747,390 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Crown Castle by 25.4% in the third quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock valued at $375,610,000 after buying an additional 642,010 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CCI shares. Royal Bank of Canada raised their price objective on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and cut their price objective for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Wells Fargo & Company decreased their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. UBS Group lifted their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, TD Cowen reduced their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Crown Castle presently has a consensus rating of “Hold” and an average target price of $110.13.

Crown Castle Trading Down 0.7 %

Shares of NYSE CCI opened at $89.57 on Monday. The stock has a market cap of $38.93 billion, a price-to-earnings ratio of 31.76 and a beta of 0.88. The business has a 50 day simple moving average of $92.10 and a 200 day simple moving average of $104.39. 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 52 week low of $84.20 and a 52 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.