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

Crown Castle (NYSE:CCI) had its price objective lowered by Citigroup from $128.00 to $106.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Citigroup’s price target points to a potential upside of 18.09% from the company’s previous close.

CCI has been the subject of a number of other reports. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their price target for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. JMP Securities assumed coverage on Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price for the company. UBS Group upped their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. TD Cowen reduced their price objective on 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, 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 report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $108.75.

Crown Castle Trading Up 0.0 %

Shares of CCI stock traded up $0.04 during trading hours on Thursday, hitting $89.77. 782,622 shares of the company were exchanged, compared to its average volume of 2,683,806. The company has a 50 day simple moving average of $91.24 and a two-hundred day simple moving average of $104.05. The firm has a market cap of $39.01 billion, a P/E ratio of 31.80 and a beta of 0.88. 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 fifty-two week low of $84.20 and a fifty-two week high of $120.92.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CCI. Norges Bank purchased a new stake in Crown Castle in the 4th quarter valued at about $561,714,000. Vanguard Group Inc. grew its holdings in shares of 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 valued at $5,672,451,000 after acquiring an additional 5,934,615 shares in the last quarter. Wellington Management Group LLP increased its position 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 acquiring an additional 3,225,460 shares during the period. Finally, National Bank of Canada FI boosted 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 worth $525,849,000 after purchasing an additional 1,573,043 shares during 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.