Econ Financial Services Corp Invests $405,000 in Crown Castle Inc. (NYSE:CCI)

Econ Financial Services Corp bought a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,457 shares of the real estate investment trust’s stock, valued at approximately $405,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC acquired a new stake in shares of Crown Castle in the third quarter worth $25,000. Rosenberg Matthew Hamilton boosted its holdings in Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 136 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Crown Castle in the 3rd quarter worth $47,000. FNY Investment Advisers LLC grew its position in Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 300 shares during the last quarter. Finally, Investors Research Corp increased its holdings in shares of Crown Castle by 57.2% during the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 154 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CCI. Scotiabank decreased their target price on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Citigroup set a $128.00 target price on Crown Castle in a research note on Thursday, October 17th. Moffett Nathanson decreased their price target on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Finally, JMP Securities initiated coverage on shares of Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $110.13.

Crown Castle Stock Down 0.8 %

Shares of CCI opened at $88.62 on Wednesday. The business’s 50 day simple moving average is $93.10 and its 200-day simple moving average is $104.69. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a market capitalization of $38.51 billion, a P/E ratio of 31.42 and a beta of 0.88. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle Company Profile

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.