1834 Investment Advisors Co. Increases Stock Holdings in Crown Castle Inc. (NYSE:CCI)

1834 Investment Advisors Co. boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 1.3% during the third quarter, Holdings Channel.com reports. The fund owned 81,592 shares of the real estate investment trust’s stock after acquiring an additional 1,058 shares during the period. Crown Castle accounts for 1.1% of 1834 Investment Advisors Co.’s investment portfolio, making the stock its 18th largest holding. 1834 Investment Advisors Co.’s holdings in Crown Castle were worth $9,679,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its position in Crown Castle by 4,097.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock worth $246,617,000 after purchasing an additional 2,464,094 shares in the last quarter. M&G Plc purchased a new stake in shares of Crown Castle during the first quarter worth about $221,573,000. Bank of Montreal Can raised its position in shares of Crown Castle by 191.7% in the second quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock valued at $195,183,000 after buying an additional 1,335,644 shares during the last quarter. Cooke & Bieler LP raised its position in shares of Crown Castle by 95.8% in the second quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock valued at $251,962,000 after buying an additional 1,261,536 shares during the last quarter. Finally, Capital International Investors boosted its position in Crown Castle by 68,262.1% during the first quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust’s stock worth $131,239,000 after acquiring an additional 1,238,274 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Bank of America raised their price objective 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. Citigroup set a $128.00 target price on shares of Crown Castle in a research note on Thursday, October 17th. UBS Group lifted their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company upped their price target on shares of Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $116.87.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $108.71 on Wednesday. Crown Castle Inc. has a 52-week low of $92.48 and a 52-week high of $120.92. The stock has a market capitalization of $47.25 billion, a price-to-earnings ratio of 38.55 and a beta of 0.86. 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 stock’s fifty day simple moving average is $113.59 and its 200 day simple moving average is $106.11.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the company posted $1.77 earnings per share. Crown Castle’s quarterly revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts forecast that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal 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.