Jupiter Asset Management Ltd. Sells 32,145 Shares of Crown Castle Inc. $CCI

Jupiter Asset Management Ltd. trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 61.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,193 shares of the real estate investment trust’s stock after selling 32,145 shares during the period. Jupiter Asset Management Ltd.’s holdings in Crown Castle were worth $1,948,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CCI. Vanguard Group Inc. grew its holdings in shares of Crown Castle by 0.7% during the second quarter. Vanguard Group Inc. now owns 69,290,381 shares of the real estate investment trust’s stock worth $7,118,201,000 after purchasing an additional 449,776 shares during the last quarter. State Street Corp lifted its position in Crown Castle by 0.5% during the 2nd quarter. State Street Corp now owns 21,461,578 shares of the real estate investment trust’s stock worth $2,204,748,000 after buying an additional 110,050 shares in the last quarter. Norges Bank acquired a new position in Crown Castle during the 2nd quarter worth about $629,431,000. Bank of America Corp DE grew its holdings in Crown Castle by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 5,534,066 shares of the real estate investment trust’s stock worth $568,515,000 after acquiring an additional 117,904 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in Crown Castle by 3,051.5% in the 2nd quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock valued at $562,221,000 after acquiring an additional 5,299,155 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CCI shares. UBS Group reduced their target price on shares of Crown Castle from $116.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Citigroup dropped their price objective on shares of Crown Castle from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Barclays reduced their price objective on Crown Castle from $101.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 17th. New Street Research lowered Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a research report on Monday, January 5th. Finally, HSBC dropped their target price on Crown Castle from $107.00 to $88.40 and set a “hold” rating for the company in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $100.02.

Crown Castle Stock Performance

CCI opened at $88.02 on Friday. The company has a fifty day moving average price of $87.06 and a two-hundred day moving average price of $92.36. The firm has a market capitalization of $38.33 billion, a PE ratio of 87.15, a P/E/G ratio of 0.45 and a beta of 0.96. Crown Castle Inc. has a 52 week low of $77.01 and a 52 week high of $115.76.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.