Wells Fargo & Company Lowers Crown Castle (NYSE:CCI) Price Target to $85.00

Crown Castle (NYSE:CCI) had its price target dropped by equities research analysts at Wells Fargo & Company from $100.00 to $85.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 3.94% from the company’s previous close.

CCI has been the subject of several other research reports. UBS Group increased their price target on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. The Goldman Sachs Group upped their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Royal Bank of Canada upped their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, TD Cowen decreased their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $109.80.

Crown Castle Trading Down 0.2 %

Shares of CCI opened at $88.49 on Thursday. The stock has a market capitalization of $38.46 billion, a P/E ratio of 31.38 and a beta of 0.87. 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 fifty day simple moving average of $95.59 and a two-hundred day simple moving average of $105.36. Crown Castle has a twelve month low of $84.20 and a twelve month high of $120.92.

Institutional Trading of Crown Castle

Institutional investors have recently bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle during the 3rd quarter valued at about $25,000. Rosenberg Matthew Hamilton grew its position in Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Crown Castle during the 3rd quarter valued at about $47,000. FNY Investment Advisers LLC grew its position in Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. Finally, Investors Research Corp grew its position in Crown Castle by 57.2% during the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 154 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Company 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.