Bank of America Initiates Coverage on Crown Castle (NYSE:CCI)

Equities researchers at Bank of America started coverage on shares of Crown Castle (NYSE:CCI) in a note issued to investors on Thursday. The brokerage set a “neutral” rating and a $110.00 price target on the real estate investment trust’s stock. Bank of America‘s price objective would suggest a potential upside of 3.18% from the stock’s current price.

Other research analysts have also issued research reports about the company. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $128.00 to $122.00 in a research report on Friday, March 14th. Citigroup increased their target price on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Moffett Nathanson decreased their target price on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their target price on Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Finally, Barclays increased their target price on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, March 17th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.00.

Crown Castle Trading Up 1.9 %

Crown Castle stock opened at $106.61 on Thursday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle has a 12 month low of $84.20 and a 12 month high of $120.92. The stock’s 50 day simple moving average is $92.77 and its two-hundred day simple moving average is $101.21. The firm has a market cap of $46.33 billion, a PE ratio of 37.81 and a beta of 0.89.

Institutional Trading of Crown Castle

A number of hedge funds and other institutional investors have recently modified their holdings of CCI. Empowered Funds LLC increased its position in shares of Crown Castle by 13.5% during the 3rd quarter. Empowered Funds LLC now owns 12,842 shares of the real estate investment trust’s stock worth $1,523,000 after purchasing an additional 1,531 shares during the last quarter. Pathstone Holdings LLC increased its position in shares of Crown Castle by 0.6% during the 3rd quarter. Pathstone Holdings LLC now owns 41,982 shares of the real estate investment trust’s stock worth $4,980,000 after purchasing an additional 230 shares during the last quarter. Caprock Group LLC increased its position in shares of Crown Castle by 19.0% during the 3rd quarter. Caprock Group LLC now owns 11,285 shares of the real estate investment trust’s stock worth $1,339,000 after purchasing an additional 1,802 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of Crown Castle by 46.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,293 shares of the real estate investment trust’s stock worth $628,000 after purchasing an additional 1,674 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Crown Castle during the 3rd quarter worth about $2,922,000. 90.77% of the stock is owned by institutional investors and hedge funds.

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.