Crown Castle Inc. (NYSE:CCI) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its position in shares of Crown Castle Inc. (NYSE:CCI) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,400 shares of the real estate investment trust’s stock after selling 1,100 shares during the period. Louisiana State Employees Retirement System’s holdings in Crown Castle were worth $2,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB increased its position in Crown Castle by 29.4% during the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after purchasing an additional 282,821 shares during the last quarter. Van ECK Associates Corp increased its position in Crown Castle by 24.7% during the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after purchasing an additional 31,319 shares during the last quarter. Oak Thistle LLC acquired a new stake in Crown Castle during the fourth quarter worth about $1,231,000. Avanza Fonder AB acquired a new stake in Crown Castle during the fourth quarter worth about $3,083,000. Finally, Fisher Asset Management LLC increased its position in Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after purchasing an additional 203,442 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Down 1.9 %

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

Wall Street Analysts Forecast Growth

CCI has been the subject of several recent analyst reports. Citigroup cut their price objective on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday. Wells Fargo & Company dropped their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their price target for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. JMP Securities assumed coverage on shares of Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target for the company. Finally, Royal Bank of Canada lifted their price target 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.