Avidian Wealth Enterprises LLC Has $393,000 Holdings in Crown Castle Inc. (NYSE:CCI)

Avidian Wealth Enterprises LLC trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 5.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,313 shares of the real estate investment trust’s stock after selling 175 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Crown Castle were worth $393,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCI. Catalyst Capital Advisors LLC acquired a new position in shares of Crown Castle during the 3rd quarter worth about $25,000. EntryPoint Capital LLC acquired a new stake in Crown Castle in the 1st quarter valued at about $27,000. Asset Dedication LLC grew its holdings in Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 167 shares during the period. Beacon Capital Management LLC increased its position in Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 177 shares during the last quarter. Finally, Rosenberg Matthew Hamilton increased its position in Crown Castle by 107.9% during the third 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 last quarter. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CCI. Citigroup set a $128.00 price objective on Crown Castle in a research report on Thursday, October 17th. Jefferies Financial Group raised their price target on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Wells Fargo & Company upped their price objective on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. TD Cowen dropped their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Finally, Bank of America lifted their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $116.87.

Crown Castle Price Performance

CCI stock opened at $104.21 on Friday. The stock has a market cap of $45.29 billion, a price-to-earnings ratio of 36.95 and a beta of 0.86. 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 has a 50 day simple moving average of $113.39 and a 200 day simple moving average of $106.09. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.77 earnings per share. Research analysts anticipate that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Company 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.