Scotiabank Cuts Crown Castle (NYSE:CCI) Price Target to $102.00

Crown Castle (NYSE:CCI) had its target price decreased by stock analysts at Scotiabank from $118.00 to $102.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would suggest a potential upside of 15.38% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Wells Fargo & Company decreased 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. Royal Bank of Canada increased their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. UBS Group upped their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Citigroup set a $128.00 price objective on shares of Crown Castle in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.79.

Crown Castle Stock Performance

NYSE CCI traded down $0.03 on Thursday, reaching $88.40. The stock had a trading volume of 701,436 shares, compared to its average volume of 3,213,649. The stock has a market cap of $38.42 billion, a P/E ratio of 31.37 and a beta of 0.87. Crown Castle has a 12-month low of $84.20 and a 12-month high of $120.92. The business’s 50-day moving average price is $95.88 and its 200 day moving average price is $105.47. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CCI. Catalyst Capital Advisors LLC acquired a new position in Crown Castle in the 3rd quarter valued at about $25,000. Rosenberg Matthew Hamilton boosted its holdings in shares of Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Crown Castle during the 3rd quarter valued at $47,000. FNY Investment Advisers LLC increased its holdings in shares of Crown Castle by 300.0% during the 4th 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 during the last quarter. Finally, Investors Research Corp raised its position in shares of Crown Castle by 57.2% in the 3rd 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 during the period. 90.77% of the stock is owned by hedge funds and other 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.