Crown Castle (NYSE:CCI) Rating Increased to Peer Perform at Wolfe Research

Crown Castle (NYSE:CCI) was upgraded by analysts at Wolfe Research from an “underperform” rating to a “peer perform” rating in a report released on Monday.

Other research analysts have also issued reports about the stock. KeyCorp upgraded shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 target price on the stock in a research note on Friday. JMP Securities started coverage on Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. UBS Group upgraded Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target for the company in a report on Friday. Finally, Scotiabank cut their price target on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a report on Friday. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Crown Castle currently has an average rating of “Moderate Buy” and an average target price of $110.29.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $103.20 on Monday. The business’s 50-day simple moving average is $91.00 and its 200-day simple moving average is $101.32. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle has a 52 week low of $84.20 and a 52 week high of $120.92. The firm has a market cap of $44.85 billion, a price-to-earnings ratio of 36.59 and a beta of 0.89.

Institutional Investors Weigh In On Crown Castle

A number of institutional investors and hedge funds have recently modified their holdings of CCI. Norges Bank bought a new position in shares of Crown Castle during the fourth quarter worth $561,714,000. Vanguard Group Inc. grew its stake in shares of Crown Castle by 10.5% during the 4th 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 lifted its position in shares of Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after purchasing an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Crown Castle by 433.8% during the third 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 worth $470,838,000 after purchasing an additional 3,225,460 shares during the last quarter. Finally, National Bank of Canada FI grew its position in Crown Castle by 37.3% in the fourth quarter. National Bank of Canada FI now owns 5,793,842 shares of the real estate investment trust’s stock valued at $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.

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.