Schmidt P J Investment Management Inc. Sells 1,144 Shares of Crown Castle Inc. (NYSE:CCI)

Schmidt P J Investment Management Inc. lessened its position in Crown Castle Inc. (NYSE:CCI) by 13.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,558 shares of the real estate investment trust’s stock after selling 1,144 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Crown Castle were worth $686,000 at the end of the most recent quarter.

Other hedge funds 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 acquiring an additional 282,821 shares during the period. Van ECK Associates Corp grew 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 buying an additional 31,319 shares in the last quarter. Oak Thistle LLC bought a new position in Crown Castle during the fourth quarter valued at about $1,231,000. Avanza Fonder AB bought a new position in Crown Castle during the fourth quarter valued at about $3,083,000. Finally, Fisher Asset Management LLC raised its holdings in Crown Castle by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after acquiring an additional 203,442 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. TD Cowen cut their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $117.00 to $104.00 in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average target price of $110.13.

Crown Castle Stock Performance

Shares of CCI opened at $89.85 on Thursday. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a market cap of $39.05 billion, a PE ratio of 31.86 and a beta of 0.88. The stock has a 50-day moving average of $93.10 and a 200-day moving average of $104.69. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

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.