Retirement Systems of Alabama Has $59.92 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

Retirement Systems of Alabama boosted its position in shares of Crown Castle Inc. (NYSE:CCI) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 660,156 shares of the real estate investment trust’s stock after purchasing an additional 1,285 shares during the period. Retirement Systems of Alabama owned about 0.15% of Crown Castle worth $59,916,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. E. Ohman J or Asset Management AB raised its position in shares of Crown Castle by 9.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 19,800 shares of the real estate investment trust’s stock valued at $1,797,000 after buying an additional 1,700 shares in the last quarter. Brown Lisle Cummings Inc. increased its stake in Crown Castle by 9.7% in the fourth quarter. Brown Lisle Cummings Inc. now owns 1,693 shares of the real estate investment trust’s stock valued at $154,000 after acquiring an additional 149 shares during the last quarter. abrdn plc grew its stake in shares of Crown Castle by 5.5% during the fourth quarter. abrdn plc now owns 1,257,526 shares of the real estate investment trust’s stock worth $113,970,000 after buying an additional 66,012 shares during the last quarter. Golden State Equity Partners grew its stake in shares of Crown Castle by 47.9% during the fourth quarter. Golden State Equity Partners now owns 5,580 shares of the real estate investment trust’s stock worth $506,000 after buying an additional 1,808 shares during the last quarter. Finally, Avantra Family Wealth Inc. bought a new stake in shares of Crown Castle during the fourth quarter worth $239,000. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. UBS Group upped their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Moffett Nathanson lowered their target price on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Wells Fargo & Company cut their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. Finally, TD Cowen lowered their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $110.13.

Crown Castle Price Performance

Crown Castle stock opened at $88.62 on Wednesday. The stock has a market capitalization of $38.51 billion, a price-to-earnings ratio of 31.42 and a beta of 0.88. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The stock’s 50 day moving average price is $93.45 and its two-hundred day moving average price is $104.80. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

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.