Spinnaker Trust Trims Position in Crown Castle Inc. (NYSE:CCI)

Spinnaker Trust lessened its stake in Crown Castle Inc. (NYSE:CCI) by 10.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,254 shares of the real estate investment trust’s stock after selling 1,945 shares during the quarter. Spinnaker Trust’s holdings in Crown Castle were worth $1,566,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC purchased a new position in Crown Castle in the 3rd quarter worth about $25,000. Rosenberg Matthew Hamilton increased its stake in Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 136 shares during the period. FNY Investment Advisers LLC increased its stake in Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 300 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Crown Castle in the 3rd quarter worth about $47,000. Finally, Friedenthal Financial purchased a new position in Crown Castle in the 3rd quarter worth about $50,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 1.9 %

CCI stock opened at $88.15 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The firm has a 50 day moving average of $90.98 and a 200 day moving average of $103.95. The stock has a market capitalization of $38.31 billion, a PE ratio of 31.26 and a beta of 0.88.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CCI. Citigroup cut their target price on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday. Royal Bank of Canada raised their target price on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and cut their target price for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. JMP Securities began coverage on shares of Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 target price on the stock. Finally, Scotiabank cut their target price on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $108.75.

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.