Lyell Wealth Management LP Sells 7,468 Shares of Crown Castle Inc. $CCI

Lyell Wealth Management LP lessened its stake in Crown Castle Inc. (NYSE:CCI) by 40.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 10,830 shares of the real estate investment trust’s stock after selling 7,468 shares during the period. Lyell Wealth Management LP’s holdings in Crown Castle were worth $1,045,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Winnow Wealth LLC acquired a new position in shares of Crown Castle in the 2nd quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new position in Crown Castle during the second quarter worth $27,000. NewSquare Capital LLC lifted its holdings in Crown Castle by 74.5% in the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 120 shares during the period. Creative Financial Designs Inc. ADV boosted its position in Crown Castle by 47.8% during the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 98 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in Crown Castle during the 3rd quarter worth about $29,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wolfe Research cut Crown Castle from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. UBS Group reduced their price objective on shares of Crown Castle from $116.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Wells Fargo & Company dropped their target price on shares of Crown Castle from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a report on Monday, December 29th. Finally, Raymond James Financial dropped their price objective on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating on the stock in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $100.61.

Crown Castle Trading Up 3.1%

Crown Castle stock opened at $90.55 on Friday. Crown Castle Inc. has a 1-year low of $77.01 and a 1-year high of $115.76. The firm has a market capitalization of $39.43 billion, a price-to-earnings ratio of 89.66, a price-to-earnings-growth ratio of 0.44 and a beta of 0.96. The firm’s fifty day moving average price is $87.26 and its two-hundred day moving average price is $93.08.

Crown Castle Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.