Fisher Funds Management LTD Buys New Shares in Crown Castle Inc. (NYSE:CCI)

Fisher Funds Management LTD purchased a new position in shares of Crown Castle Inc. (NYSE:CCI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 179,064 shares of the real estate investment trust’s stock, valued at approximately $16,143,000.

Several other large investors have also added to or reduced their stakes in the company. Sigma Planning Corp lifted its holdings in shares of Crown Castle by 5.7% during the fourth quarter. Sigma Planning Corp now owns 11,554 shares of the real estate investment trust’s stock worth $1,049,000 after purchasing an additional 623 shares during the period. Redmond Asset Management LLC lifted its stake in Crown Castle by 2.9% during the 4th quarter. Redmond Asset Management LLC now owns 13,507 shares of the real estate investment trust’s stock valued at $1,226,000 after acquiring an additional 386 shares during the period. Bell Bank acquired a new stake in Crown Castle during the 4th quarter valued at approximately $5,815,000. Hudson Edge Investment Partners Inc. purchased a new stake in shares of Crown Castle in the 4th quarter valued at $232,000. Finally, Paradigm Asset Management Co. LLC acquired a new stake in shares of Crown Castle in the fourth quarter worth $127,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.1 %

Shares of NYSE CCI opened at $92.21 on Friday. The firm has a market cap of $40.07 billion, a price-to-earnings ratio of 32.70 and a beta of 0.88. The company’s 50-day simple moving average is $89.75 and its 200-day simple moving average is $103.00. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CCI shares. JMP Securities began coverage on shares of Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 target price for the company. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Scotiabank dropped their target price on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company decreased their price target on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. Finally, Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $108.75.

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.