Crown Castle Inc. (NYSE:CCI) Shares Acquired by Redmond Asset Management LLC

Redmond Asset Management LLC increased its stake in Crown Castle Inc. (NYSE:CCI) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,507 shares of the real estate investment trust’s stock after acquiring an additional 386 shares during the period. Redmond Asset Management LLC’s holdings in Crown Castle were worth $1,226,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Malaga Cove Capital LLC raised its stake 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 valued at $658,000 after acquiring an additional 100 shares in the last quarter. Napa Wealth Management raised its stake 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 valued at $328,000 after acquiring an additional 122 shares in the last quarter. Accurate Wealth Management LLC raised its stake 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 valued at $205,000 after acquiring an additional 124 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of 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 raised its stake in shares of 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. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CCI. Royal Bank of Canada increased 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. Wells Fargo & Company dropped their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and dropped their target price for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Citigroup dropped their target price on Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and a consensus target price of $108.75.

Crown Castle Price Performance

Shares of CCI opened at $92.21 on Friday. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The company has a market capitalization of $40.07 billion, a price-to-earnings ratio of 32.70 and a beta of 0.88. The firm has a 50-day simple moving average of $89.75 and a 200-day simple moving average of $103.07. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current 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.