Stevens Capital Management LP Makes New Investment in Crown Castle Inc. $CCI

Stevens Capital Management LP acquired a new stake in Crown Castle Inc. (NYSE:CCI) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 18,637 shares of the real estate investment trust’s stock, valued at approximately $1,798,000.

Several other institutional investors have also modified their holdings of CCI. Winnow Wealth LLC purchased a new position in Crown Castle in the second quarter valued at $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Crown Castle during the second quarter worth approximately $27,000. NewSquare Capital LLC boosted its holdings in Crown Castle by 74.5% in the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares in the last quarter. LRI Investments LLC acquired a new position in Crown Castle in the third quarter valued at approximately $29,000. Finally, Creative Financial Designs Inc. ADV increased its stake in Crown Castle by 47.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 98 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on CCI. Wolfe Research downgraded shares of Crown Castle from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Royal Bank Of Canada reduced their price target on shares of Crown Castle from $112.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, January 12th. The Goldman Sachs Group dropped their price objective on Crown Castle from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Wells Fargo & Company reduced their target price on Crown Castle from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Crown Castle in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $100.02.

Crown Castle Stock Performance

Shares of CCI opened at $88.02 on Friday. Crown Castle Inc. has a fifty-two week low of $77.01 and a fifty-two week high of $115.76. The company has a market capitalization of $38.33 billion, a price-to-earnings ratio of 87.15, a price-to-earnings-growth ratio of 0.44 and a beta of 0.96. The firm has a 50-day simple moving average of $87.06 and a 200-day simple moving average of $92.45.

Crown Castle Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.