Crown Castle (NYSE:CCI) Price Target Lowered to $106.00 at Citigroup

Crown Castle (NYSE:CCI) had its target price reduced by Citigroup from $128.00 to $106.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

CCI has been the topic of several other research reports. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and cut their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. TD Cowen lowered their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Finally, Scotiabank dropped their target price on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Crown Castle currently has an average rating of “Hold” and a consensus target price of $108.75.

Crown Castle Price Performance

NYSE CCI opened at $89.98 on Thursday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $39.10 billion, a PE ratio of 31.91 and a beta of 0.88. The firm’s 50 day moving average price is $91.24 and its 200-day moving average price is $104.05. Crown Castle has a 52-week low of $84.20 and a 52-week high of $120.92.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position 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 purchasing an additional 5,934,615 shares during the last quarter. State Street Corp lifted its stake in Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Crown Castle by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust’s stock worth $1,892,332,000 after purchasing an additional 3,321,249 shares during the last quarter. Geode Capital Management LLC lifted its position in Crown Castle by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust’s stock worth $1,119,225,000 after buying an additional 228,007 shares in the last quarter. Finally, Norges Bank acquired a new position in Crown Castle during the fourth quarter worth $561,714,000. 90.77% of the stock is owned by institutional investors and hedge funds.

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.