Crown Castle Inc. (NYSE:CCI) Given Average Rating of “Hold” by Brokerages

Shares of Crown Castle Inc. (NYSE:CCI) have received a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $108.75.

Several analysts have weighed in on the company. Wells Fargo & Company dropped their price target on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. Moffett Nathanson dropped their target price on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Citigroup reduced their price target on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $117.00 to $104.00 in a report on Monday, January 13th. Finally, Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd.

Crown Castle Trading Down 1.9 %

NYSE:CCI opened at $88.15 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a fifty day simple moving average of $90.98 and a 200-day simple moving average of $103.95. Crown Castle has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a market capitalization of $38.31 billion, a P/E ratio of 31.26 and a beta of 0.88.

Institutional Investors Weigh In On Crown Castle

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCI. Nordea Investment Management AB grew its position in shares of Crown Castle by 29.4% in the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after purchasing an additional 282,821 shares during the period. Van ECK Associates Corp lifted its stake in Crown Castle by 24.7% in the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after buying an additional 31,319 shares in the last quarter. Oak Thistle LLC acquired a new stake in Crown Castle in the 4th quarter worth about $1,231,000. Avanza Fonder AB purchased a new stake in Crown Castle during the 4th quarter worth approximately $3,083,000. Finally, Fisher Asset Management LLC boosted its stake in shares of 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 worth $603,592,000 after acquiring an additional 203,442 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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.