Ipswich Investment Management Co. Inc. Sells 9,765 Shares of Crown Castle Inc. (NYSE:CCI)

Ipswich Investment Management Co. Inc. reduced its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 51.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,372 shares of the real estate investment trust’s stock after selling 9,765 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Crown Castle were worth $851,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CCI. State Street Corp lifted its holdings in shares of Crown Castle by 3.7% in the third 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. Wellington Management Group LLP lifted its stake in Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after purchasing an additional 3,371,186 shares during the last quarter. Geode Capital Management LLC boosted its position in Crown Castle by 1.3% in the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after buying an additional 151,990 shares in the last quarter. Barclays PLC grew its stake in shares of Crown Castle by 7.2% during the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after buying an additional 348,296 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of 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 buying an additional 203,442 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCI has been the topic of several recent research reports. Wells Fargo & Company cut their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Moffett Nathanson reduced their price target on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. JMP Securities started coverage on shares of Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $108.75.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $92.21 on Friday. The business has a 50-day moving average price of $89.75 and a two-hundred day moving average price of $103.07. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a market cap of $40.07 billion, a P/E ratio of 32.70 and a beta of 0.88.

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.