Equitable Trust Co. Sells 32,920 Shares of Crown Castle Inc. (NYSE:CCI)

Equitable Trust Co. reduced its position in shares of Crown Castle Inc. (NYSE:CCI) by 11.6% in the fourth quarter, Holdings Channel reports. The firm owned 250,379 shares of the real estate investment trust’s stock after selling 32,920 shares during the quarter. Crown Castle accounts for 1.3% of Equitable Trust Co.’s holdings, making the stock its 15th biggest holding. Equitable Trust Co.’s holdings in Crown Castle were worth $22,724,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Global Wealth Management Investment Advisory Inc. bought a new stake in Crown Castle during the 4th quarter valued at about $3,138,000. Savant Capital LLC boosted its holdings in shares of Crown Castle by 12.5% during the 4th quarter. Savant Capital LLC now owns 4,051 shares of the real estate investment trust’s stock valued at $368,000 after acquiring an additional 450 shares during the last quarter. Angeles Wealth Management LLC boosted its holdings in shares of Crown Castle by 38.1% during the 4th quarter. Angeles Wealth Management LLC now owns 3,454 shares of the real estate investment trust’s stock valued at $313,000 after acquiring an additional 953 shares during the last quarter. Stiles Financial Services Inc purchased a new stake in shares of Crown Castle during the 4th quarter valued at about $231,000. Finally, Stephens Inc. AR boosted its holdings in shares of Crown Castle by 0.7% during the 4th quarter. Stephens Inc. AR now owns 76,194 shares of the real estate investment trust’s stock valued at $6,915,000 after acquiring an additional 546 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $89.57 on Monday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a market capitalization of $38.93 billion, a P/E ratio of 31.76 and a beta of 0.88. The firm’s 50 day simple moving average is $92.10 and its two-hundred day simple moving average is $104.39.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. UBS Group raised their price target on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Scotiabank dropped 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. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company dropped their price objective on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $110.13.

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.