Sumitomo Mitsui Trust Group Inc. Buys 15,141 Shares of Crown Castle Inc. (NYSE:CCI)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 879,562 shares of the real estate investment trust’s stock after buying an additional 15,141 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Crown Castle worth $79,829,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Silver Oak Securities Incorporated bought a new stake in shares of Crown Castle in the 4th quarter worth $245,000. State of Alaska Department of Revenue boosted its holdings in Crown Castle by 0.6% during the fourth quarter. State of Alaska Department of Revenue now owns 259,674 shares of the real estate investment trust’s stock worth $23,567,000 after purchasing an additional 1,462 shares during the last quarter. YANKCOM Partnership bought a new stake in Crown Castle in the 4th quarter worth about $739,000. Long Run Wealth Advisors LLC increased its stake in Crown Castle by 15.2% in the 4th quarter. Long Run Wealth Advisors LLC now owns 13,702 shares of the real estate investment trust’s stock valued at $1,244,000 after buying an additional 1,805 shares during the last quarter. Finally, Inman Jager Wealth Management LLC bought a new position in shares of Crown Castle during the 4th quarter worth approximately $592,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Crown Castle stock opened at $89.57 on Monday. The firm has a market capitalization of $38.93 billion, a P/E ratio of 31.76 and a beta of 0.88. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The business has a fifty day moving average price of $92.10 and a 200-day moving average price of $104.39.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CCI. Wells Fargo & Company reduced their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $117.00 to $104.00 in a research report on Monday, January 13th. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Finally, Moffett Nathanson dropped their target price on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $110.13.

Crown Castle 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.