Crown Castle Inc. (NYSE:CCI) Position Boosted by Alberta Investment Management Corp

Alberta Investment Management Corp grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 311.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,800 shares of the real estate investment trust’s stock after acquiring an additional 33,900 shares during the period. Alberta Investment Management Corp’s holdings in Crown Castle were worth $4,066,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CCI. Wellington Management Group LLP grew its position in 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 acquiring an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 last quarter. International Assets Investment Management LLC grew its stake in Crown Castle by 13,271.6% in the 3rd quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock valued at $115,449,000 after buying an additional 965,907 shares during the last quarter. State Street Corp lifted its position in Crown Castle by 3.7% during the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after acquiring an additional 747,390 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in 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 valued at $375,610,000 after acquiring an additional 642,010 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on CCI. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Moffett Nathanson dropped their price objective on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Citigroup decreased their price target on Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Finally, Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their target price for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Crown Castle has a consensus rating of “Hold” and a consensus target price of $108.75.

Crown Castle Price Performance

CCI opened at $91.29 on Friday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The company’s 50 day simple moving average is $89.85 and its 200-day simple moving average is $103.20. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The stock has a market capitalization of $39.67 billion, a P/E ratio of 32.37 and a beta of 0.88.

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.