Crown Castle (NYSE:CCI) Price Target Cut to $85.00 by Analysts at Wells Fargo & Company

Crown Castle (NYSE:CCI) had its price target cut by analysts at Wells Fargo & Company from $100.00 to $85.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 2.62% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Citigroup set a $128.00 price target on shares of Crown Castle in a research note on Thursday, October 17th. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. Jefferies Financial Group downgraded 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 research note on Thursday, January 2nd. TD Cowen reduced their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, UBS Group lifted their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $111.93.

Crown Castle Price Performance

CCI traded down $1.14 during midday trading on Thursday, hitting $87.29. 94,213 shares of the company traded hands, compared to its average volume of 3,173,343. 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 company has a market capitalization of $37.93 billion, a price-to-earnings ratio of 30.96 and a beta of 0.87. Crown Castle has a 52-week low of $84.20 and a 52-week high of $120.92. The business has a 50 day simple moving average of $95.88 and a two-hundred day simple moving average of $105.47.

Institutional Trading of Crown Castle

Hedge funds have recently made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new position in Crown Castle during the 3rd quarter valued at about $25,000. Rosenberg Matthew Hamilton grew its holdings in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 136 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Crown Castle during the third quarter worth about $47,000. FNY Investment Advisers LLC grew its holdings in shares of Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 300 shares in the last quarter. Finally, Investors Research Corp grew its holdings in shares of Crown Castle by 57.2% during the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 154 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.