Crown Castle Inc. (NYSE:CCI) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 17.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 181,556 shares of the real estate investment trust’s stock after selling 37,095 shares during the period. Truist Financial Corp’s holdings in Crown Castle were worth $16,478,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Malaga Cove Capital LLC boosted its stake in Crown Castle by 1.8% in the 3rd quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock worth $658,000 after buying an additional 100 shares during the last quarter. Napa Wealth Management boosted its stake in Crown Castle by 4.6% in the 3rd quarter. Napa Wealth Management now owns 2,765 shares of the real estate investment trust’s stock worth $328,000 after buying an additional 122 shares during the last quarter. Accurate Wealth Management LLC boosted its stake in Crown Castle by 5.4% in the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 124 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Crown Castle by 12.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 126 shares during the last quarter. Finally, MCF Advisors LLC boosted its stake in Crown Castle by 2.1% in the 3rd quarter. MCF Advisors LLC now owns 6,200 shares of the real estate investment trust’s stock worth $736,000 after buying an additional 130 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

CCI stock opened at $89.27 on Thursday. 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. The stock’s 50 day moving average is $90.00 and its two-hundred day moving average is $103.28. The company has a market capitalization of $38.80 billion, a PE ratio of 31.65 and a beta of 0.88.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CCI shares. Royal Bank of Canada lifted their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Citigroup reduced their price objective on Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft reduced their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Scotiabank reduced their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 23rd. Finally, Moffett Nathanson reduced their price objective on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.75.

About Crown Castle

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.