Focus Financial Network Inc. Sells 1,124 Shares of Crown Castle Inc. (NYSE:CCI)

Focus Financial Network Inc. trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI) by 29.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,680 shares of the real estate investment trust’s stock after selling 1,124 shares during the quarter. Focus Financial Network Inc.’s holdings in Crown Castle were worth $243,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Wealth Management Investment Advisory Inc. acquired a new position in Crown Castle in the 4th quarter valued at about $3,138,000. Savant Capital LLC grew its position in shares of Crown Castle by 12.5% in the fourth quarter. Savant Capital LLC now owns 4,051 shares of the real estate investment trust’s stock valued at $368,000 after purchasing an additional 450 shares during the last quarter. Angeles Wealth Management LLC increased its stake in shares of Crown Castle by 38.1% during the fourth quarter. Angeles Wealth Management LLC now owns 3,454 shares of the real estate investment trust’s stock worth $313,000 after purchasing an additional 953 shares during the period. Stiles Financial Services Inc acquired a new stake in Crown Castle during the 4th quarter worth approximately $231,000. Finally, Stephens Inc. AR boosted its stake in Crown Castle by 0.7% in 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 purchasing an additional 546 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their target price on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a report on Thursday. JMP Securities began coverage on shares of Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective for the company. Scotiabank decreased their target price on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 23rd. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $117.00 to $104.00 in a research report on Monday, January 13th. Finally, Royal Bank of Canada increased their price target 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 equities 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $108.75.

Crown Castle Price Performance

CCI stock opened at $88.15 on Friday. 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 company’s fifty day simple moving average is $90.98 and its 200 day simple moving average is $103.95. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a market cap of $38.31 billion, a price-to-earnings ratio of 31.26 and a beta of 0.88.

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.