Ipswich Investment Management Co. Inc. Sells 9,765 Shares of Crown Castle Inc. (NYSE:CCI)

Ipswich Investment Management Co. Inc. trimmed its stake in Crown Castle Inc. (NYSE:CCI) by 51.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,372 shares of the real estate investment trust’s stock after selling 9,765 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Crown Castle were worth $851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Malaga Cove Capital LLC lifted its position in Crown Castle by 1.8% during the third quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock valued at $658,000 after purchasing an additional 100 shares during the last quarter. Napa Wealth Management raised its position in shares of Crown Castle by 4.6% during the 3rd quarter. Napa Wealth Management now owns 2,765 shares of the real estate investment trust’s stock valued at $328,000 after buying an additional 122 shares in the last quarter. Accurate Wealth Management LLC lifted its holdings in shares of Crown Castle by 5.4% during the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 124 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Crown Castle by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 126 shares in the last quarter. Finally, MCF Advisors LLC grew its position in Crown Castle by 2.1% in the third quarter. MCF Advisors LLC now owns 6,200 shares of the real estate investment trust’s stock worth $736,000 after acquiring an additional 130 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Up 1.1 %

Shares of NYSE:CCI opened at $92.21 on Friday. The stock’s 50-day moving average is $89.75 and its 200 day moving average is $103.07. The company has a market cap of $40.07 billion, a PE ratio of 32.70 and a beta of 0.88. 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.

Wall Street Analysts Forecast Growth

CCI has been the subject of several research analyst reports. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and dropped their price target for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. JMP Securities began coverage on Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price for the company. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company decreased their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada upped their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $108.75.

Crown Castle Company 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.