Crown Castle Inc. (NYSE:CCI) Receives $110.13 Average Target Price from Analysts

Shares of Crown Castle Inc. (NYSE:CCI) have earned a consensus rating of “Hold” from the sixteen brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $110.13.

A number of equities research analysts recently weighed in on the stock. JMP Securities assumed coverage on shares of Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective for the company. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and decreased their price target for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Citigroup set a $128.00 target price on Crown Castle in a research report on Thursday, October 17th. Finally, Moffett Nathanson dropped their price target on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd.

Crown Castle Stock Down 1.5 %

NYSE:CCI opened at $89.81 on Friday. The company has a market cap of $39.03 billion, a price-to-earnings ratio of 31.85 and a beta of 0.88. Crown Castle has a twelve month low of $84.20 and a twelve month high of $120.92. 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 stock has a fifty day simple moving average of $91.51 and a 200-day simple moving average of $104.15.

Hedge Funds Weigh In On Crown Castle

Large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Crown Castle during the 4th quarter worth $561,714,000. Vanguard Group Inc. boosted its holdings in Crown Castle by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock worth $5,672,451,000 after acquiring an additional 5,934,615 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Crown Castle by 23.8% during the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after acquiring an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Crown Castle by 433.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock valued at $470,838,000 after purchasing an additional 3,225,460 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in Crown Castle by 37.3% in the 4th quarter. National Bank of Canada FI now owns 5,793,842 shares of the real estate investment trust’s stock worth $525,849,000 after purchasing an additional 1,573,043 shares in the last quarter. 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.