Wells Fargo & Company MN Has $166.24 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

Wells Fargo & Company MN reduced its stake in shares of Crown Castle Inc. (NYSE:CCI) by 21.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,443,176 shares of the real estate investment trust’s stock after selling 388,956 shares during the quarter. Wells Fargo & Company MN’s holdings in Crown Castle were worth $166,239,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Balentine LLC grew its holdings in shares of Crown Castle by 49.2% during the 4th quarter. Balentine LLC now owns 5,034 shares of the real estate investment trust’s stock worth $580,000 after purchasing an additional 1,660 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in Crown Castle by 14.2% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,968 shares of the real estate investment trust’s stock valued at $918,000 after buying an additional 992 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Crown Castle by 8.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 329,980 shares of the real estate investment trust’s stock valued at $38,010,000 after buying an additional 26,880 shares in the last quarter. Norges Bank acquired a new stake in Crown Castle in the fourth quarter valued at about $581,503,000. Finally, ING Groep NV raised its position in Crown Castle by 8.4% in the fourth quarter. ING Groep NV now owns 167,416 shares of the real estate investment trust’s stock valued at $19,285,000 after purchasing an additional 12,971 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Up 0.1 %

NYSE CCI opened at $100.75 on Wednesday. The business has a 50 day simple moving average of $99.91 and a 200 day simple moving average of $106.30. Crown Castle Inc. has a one year low of $84.72 and a one year high of $119.50. The stock has a market capitalization of $43.78 billion, a P/E ratio of 31.48, a P/E/G ratio of 2.68 and a beta of 0.76. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.42.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the business earned $1.91 EPS. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. Research analysts expect that Crown Castle Inc. will post 6.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Scotiabank dropped their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Barclays increased their target price on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 23rd. Wells Fargo & Company dropped their target price on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft dropped their target price on Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Finally, Royal Bank of Canada dropped their target price on Crown Castle from $109.00 to $100.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 7th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $112.64.

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.