Crown Castle (NYSE:CCI) Given New $106.00 Price Target at Citigroup

Crown Castle (NYSE:CCI) had its target price decreased by analysts at Citigroup from $128.00 to $106.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Citigroup’s price objective indicates a potential upside of 18.09% from the stock’s current price.

Other analysts also recently issued reports about the company. Wells Fargo & Company dropped their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Moffett Nathanson reduced their price target on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Royal Bank of Canada upped their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Finally, Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $117.00 to $104.00 in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Crown Castle has an average rating of “Hold” and a consensus price target of $108.75.

Crown Castle Price Performance

NYSE CCI traded up $0.04 on Thursday, hitting $89.77. 782,622 shares of the company’s stock were exchanged, compared to its average volume of 2,683,806. The stock has a 50-day moving average of $91.24 and a 200-day moving average of $104.05. The stock has a market cap of $39.01 billion, a price-to-earnings ratio of 31.80 and a beta of 0.88. Crown Castle has a 52 week low of $84.20 and a 52 week 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.

Institutional Investors Weigh In On Crown Castle

Several institutional investors and hedge funds have recently made changes to their positions in the stock. F M Investments LLC increased its position in Crown Castle by 19.0% during the 4th quarter. F M Investments LLC now owns 13,472 shares of the real estate investment trust’s stock valued at $1,223,000 after purchasing an additional 2,152 shares during the period. Bessemer Group Inc. increased its position in shares of Crown Castle by 1.3% during the fourth quarter. Bessemer Group Inc. now owns 71,742 shares of the real estate investment trust’s stock worth $6,512,000 after buying an additional 928 shares during the period. APG Asset Management N.V. acquired a new stake in shares of Crown Castle during the fourth quarter worth $20,773,000. Renaissance Technologies LLC bought a new position in Crown Castle during the fourth quarter worth $2,442,000. Finally, Bank of Nova Scotia lifted its holdings in Crown Castle by 12.5% in the fourth quarter. Bank of Nova Scotia now owns 63,312 shares of the real estate investment trust’s stock valued at $5,746,000 after buying an additional 7,043 shares during the period. Institutional investors and hedge funds 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.