Retirement Systems of Alabama Grows Stake in Crown Castle Inc. (NYSE:CCI)

Retirement Systems of Alabama lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 0.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 660,156 shares of the real estate investment trust’s stock after acquiring an additional 1,285 shares during the quarter. Retirement Systems of Alabama’s holdings in Crown Castle were worth $59,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after buying an additional 3,371,186 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Crown Castle by 433.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after buying an additional 3,225,460 shares during the period. International Assets Investment Management LLC grew its position in shares of Crown Castle by 13,271.6% during the third quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock worth $115,449,000 after purchasing an additional 965,907 shares in the last quarter. State Street Corp grew its position in shares of Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Crown Castle by 25.4% during the third quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock worth $375,610,000 after purchasing an additional 642,010 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. JMP Securities assumed coverage on Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target for the company. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $117.00 to $104.00 in a report on Monday, January 13th. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Royal Bank of Canada lifted their target price on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company dropped their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $110.13.

Crown Castle Trading Down 0.8 %

NYSE:CCI opened at $88.62 on Wednesday. The company has a market cap of $38.51 billion, a P/E ratio of 31.42 and a beta of 0.88. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The business has a 50 day moving average price of $93.45 and a two-hundred day moving average price of $104.80. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

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.