Concurrent Investment Advisors LLC Trims Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Concurrent Investment Advisors LLC reduced its stake in Crown Castle Inc. (NYSE:CCI) by 14.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,060 shares of the real estate investment trust’s stock after selling 1,018 shares during the period. Concurrent Investment Advisors LLC’s holdings in Crown Castle were worth $550,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCI. Nordea Investment Management AB increased its stake 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 period. Van ECK Associates Corp increased its stake 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 period. Oak Thistle LLC purchased a new stake in Crown Castle during the fourth quarter worth about $1,231,000. Avanza Fonder AB purchased a new stake in Crown Castle during the fourth quarter worth about $3,083,000. Finally, Fisher Asset Management LLC increased its stake 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 period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CCI. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. JMP Securities began coverage on Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Finally, Scotiabank lowered their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $108.75.

Crown Castle Stock Performance

Shares of CCI opened at $92.50 on Tuesday. The stock has a 50 day moving average price of $89.69 and a 200 day moving average price of $102.81. 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 $40.20 billion, a price-to-earnings ratio of 32.80 and a beta of 0.88. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92.

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.