Crown Castle (NYSE:CCI) Earns Neutral Rating from Analysts at Bank of America

Investment analysts at Bank of America assumed coverage on shares of Crown Castle (NYSE:CCI) in a research report issued to clients and investors on Thursday. The firm set a “neutral” rating and a $110.00 price target on the real estate investment trust’s stock. Bank of America‘s target price would indicate a potential upside of 5.16% from the stock’s current price.

Several other brokerages also recently weighed in on CCI. Scotiabank lowered their price objective on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a research report on Friday, March 14th. Barclays boosted their price objective on shares of Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group upgraded Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a report on Friday, March 14th. Citigroup increased their price objective on Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Finally, Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $85.00 to $105.00 in a research note on Monday. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Trading Up 0.2 %

Shares of NYSE:CCI traded up $0.25 on Thursday, reaching $104.60. 484,855 shares of the company traded hands, compared to its average volume of 3,112,919. 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. The business’s 50-day simple moving average is $91.98 and its 200 day simple moving average is $101.23. The stock has a market capitalization of $45.46 billion, a P/E ratio of 37.09 and a beta of 0.89.

Hedge Funds Weigh In On Crown Castle

Several large investors have recently made changes to their positions in the business. Accurate Wealth Management LLC increased its position in Crown Castle by 5.4% during the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 124 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Crown Castle by 12.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 126 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Crown Castle by 5.9% during the fourth quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock valued at $216,000 after acquiring an additional 133 shares in the last quarter. Howard Capital Management Inc. boosted its stake in Crown Castle by 1.2% in the 4th quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock worth $1,041,000 after purchasing an additional 135 shares in the last quarter. Finally, Cidel Asset Management Inc. boosted its stake in Crown Castle by 6.4% in the 4th quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust’s stock worth $207,000 after purchasing an additional 137 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

About Crown Castle

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.