Allspring Global Investments Holdings LLC Decreases Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Allspring Global Investments Holdings LLC trimmed its position in Crown Castle Inc. (NYSE:CCI) by 40.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,755 shares of the real estate investment trust’s stock after selling 21,207 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Crown Castle were worth $2,746,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Crown Castle by 3.7% in the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after buying an additional 747,390 shares during the period. Wellington Management Group LLP increased its stake in shares of Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after buying an additional 3,371,186 shares during the period. Geode Capital Management LLC increased its stake in shares of Crown Castle by 1.3% in the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock worth $1,434,229,000 after buying an additional 151,990 shares during the period. Barclays PLC increased its stake in shares of Crown Castle by 7.2% in the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after buying an additional 348,296 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after acquiring an additional 203,442 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CCI has been the topic of several recent analyst reports. Wells Fargo & Company cut their price target 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. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Royal Bank of Canada lifted 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. Scotiabank cut 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. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned 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 a consensus target price of $108.75.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $92.21 on Friday. The stock has a market cap of $40.07 billion, a price-to-earnings ratio of 32.70 and a beta of 0.88. The firm’s 50-day moving average is $89.75 and its 200 day moving average is $103.07. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. 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 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.