NorthRock Partners LLC Decreases Stock Position in Crown Castle Inc. (NYSE:CCI)

NorthRock Partners LLC reduced its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,373 shares of the real estate investment trust’s stock after selling 135 shares during the quarter. NorthRock Partners LLC’s holdings in Crown Castle were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCI. Quent Capital LLC lifted its stake in Crown Castle by 10.9% in the 1st quarter. Quent Capital LLC now owns 2,346 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 231 shares in the last quarter. Whittier Trust Co. increased its position in Crown Castle by 6.2% during the 1st quarter. Whittier Trust Co. now owns 2,268 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 132 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Crown Castle by 44.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,542 shares of the real estate investment trust’s stock valued at $163,000 after purchasing an additional 472 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in Crown Castle by 0.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 89,535 shares of the real estate investment trust’s stock valued at $9,475,000 after purchasing an additional 571 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its stake in shares of Crown Castle by 150.2% during the 1st quarter. Manchester Capital Management LLC now owns 1,276 shares of the real estate investment trust’s stock worth $135,000 after purchasing an additional 766 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price objective on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their price target on Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Bank of America lifted their price objective on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft increased their target price on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Twelve investment 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 presently has a consensus rating of “Hold” and a consensus price target of $116.87.

Crown Castle Price Performance

Crown Castle stock opened at $103.46 on Thursday. The firm has a fifty day moving average of $113.39 and a 200-day moving average of $106.09. Crown Castle Inc. has a 52-week low of $92.48 and a 52-week high of $120.92. 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 firm has a market capitalization of $44.96 billion, a P/E ratio of 36.69 and a beta of 0.86.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the business earned $1.77 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, analysts predict that Crown Castle Inc. will post 6.65 EPS for the current year.

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.