Morningstar Investment Management LLC Purchases 982 Shares of Crown Castle Inc. (NYSE:CCI)

Morningstar Investment Management LLC lifted its position in Crown Castle Inc. (NYSE:CCI) by 22.7% during the 4th quarter, Holdings Channel reports. The firm owned 5,304 shares of the real estate investment trust’s stock after acquiring an additional 982 shares during the period. Morningstar Investment Management LLC’s holdings in Crown Castle were worth $481,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Malaga Cove Capital LLC grew its holdings in shares of Crown Castle by 1.8% in the third quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock worth $658,000 after purchasing an additional 100 shares during the last quarter. Napa Wealth Management grew its holdings in shares of Crown Castle by 4.6% in the third quarter. Napa Wealth Management now owns 2,765 shares of the real estate investment trust’s stock worth $328,000 after purchasing an additional 122 shares during the last quarter. Accurate Wealth Management LLC grew its holdings in shares of Crown Castle by 5.4% in the fourth quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock worth $205,000 after purchasing an additional 124 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Crown Castle by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 126 shares in the last quarter. Finally, MCF Advisors LLC boosted its holdings in Crown Castle by 2.1% in the third quarter. MCF Advisors LLC now owns 6,200 shares of the real estate investment trust’s stock valued at $736,000 after acquiring an additional 130 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

CCI opened at $89.27 on Thursday. The stock has a 50-day moving average price of $90.00 and a 200-day moving average price of $103.28. 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 firm has a market cap of $38.80 billion, a PE ratio of 31.65 and a beta of 0.88. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CCI. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Citigroup cut their price target on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Scotiabank cut their price target on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $108.75.

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.