Truist Financial Corp Cuts Stock Position in Crown Castle Inc. (NYSE:CCI)

Truist Financial Corp lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 17.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,556 shares of the real estate investment trust’s stock after selling 37,095 shares during the quarter. Truist Financial Corp’s holdings in Crown Castle were worth $16,478,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. CIBC Asset Management Inc raised its stake in shares of Crown Castle by 4.5% during the fourth quarter. CIBC Asset Management Inc now owns 66,920 shares of the real estate investment trust’s stock worth $6,074,000 after purchasing an additional 2,873 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Crown Castle by 10.1% during the fourth quarter. Principal Financial Group Inc. now owns 601,740 shares of the real estate investment trust’s stock worth $54,614,000 after purchasing an additional 55,117 shares during the last quarter. Allworth Financial LP raised its stake in shares of Crown Castle by 1,522.1% during the fourth quarter. Allworth Financial LP now owns 60,408 shares of the real estate investment trust’s stock worth $5,342,000 after purchasing an additional 56,684 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of Crown Castle during the fourth quarter worth approximately $37,000. Finally, ABC Arbitrage SA purchased a new position in Crown Castle in the fourth quarter worth $1,394,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 0.0 %

CCI 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. The firm has a market cap of $38.80 billion, a P/E ratio of 31.65 and a beta of 0.88. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The business’s fifty day simple moving average is $90.00 and its 200 day simple moving average is $103.28.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and cut their price objective for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Wells Fargo & Company cut their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. Citigroup cut their price objective on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft cut their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada increased their price objective on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.