Adell Harriman & Carpenter Inc. Cuts Holdings in Crown Castle Inc. (NYSE:CCI)

Adell Harriman & Carpenter Inc. lowered its stake in shares of Crown Castle Inc. (NYSE:CCI) by 14.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,052 shares of the real estate investment trust’s stock after selling 697 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Crown Castle were worth $368,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AMF Tjanstepension AB grew its stake in Crown Castle by 11.7% in the third quarter. AMF Tjanstepension AB now owns 166,922 shares of the real estate investment trust’s stock valued at $19,835,000 after purchasing an additional 17,524 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Crown Castle during the 3rd quarter worth approximately $120,000. CX Institutional lifted its position in Crown Castle by 11.5% during the third quarter. CX Institutional now owns 2,612 shares of the real estate investment trust’s stock valued at $310,000 after acquiring an additional 269 shares during the last quarter. Global Retirement Partners LLC boosted its stake in Crown Castle by 13.9% in the third quarter. Global Retirement Partners LLC now owns 6,000 shares of the real estate investment trust’s stock valued at $712,000 after acquiring an additional 732 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in Crown Castle by 1.8% in the third quarter. Bleakley Financial Group LLC now owns 6,554 shares of the real estate investment trust’s stock worth $777,000 after purchasing an additional 117 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $88.15 on Friday. The company has a market capitalization of $38.31 billion, a PE ratio of 31.26 and a beta of 0.88. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The company’s fifty day moving average price is $90.98 and its 200 day moving average price is $103.95. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Wall Street Analyst Weigh In

CCI has been the subject of several analyst reports. Royal Bank of Canada increased their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company dropped their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. Finally, Scotiabank decreased their price target on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and an average target price of $108.75.

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.