Crown Castle (NYSE:CCI) Stock Rating Upgraded by Wells Fargo & Company

Crown Castle (NYSE:CCI) was upgraded by investment analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm currently has a $105.00 price target on the real estate investment trust’s stock, up from their previous price target of $85.00. Wells Fargo & Company‘s price target points to a potential upside of 0.09% from the company’s previous close.

A number of other equities analysts also recently issued reports on CCI. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. JMP Securities assumed coverage on shares of Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and cut their price objective for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Citigroup upped their price objective on shares of Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Finally, Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.29.

Crown Castle Price Performance

CCI stock opened at $104.90 on Monday. Crown Castle has a 1 year low of $84.20 and a 1 year high of $120.92. The company has a market cap of $45.59 billion, a P/E ratio of 37.20 and a beta of 0.89. The firm has a 50-day moving average of $91.64 and a 200 day moving average of $101.21. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Institutional Investors Weigh In On Crown Castle

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCI. Twin Tree Management LP purchased a new stake in Crown Castle in the fourth quarter worth approximately $25,000. FNY Investment Advisers LLC boosted its holdings in Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 300 shares during the last quarter. Roxbury Financial LLC purchased a new stake in Crown Castle in the fourth quarter worth approximately $37,000. Vermillion Wealth Management Inc. purchased a new stake in Crown Castle in the fourth quarter worth approximately $38,000. Finally, Investors Research Corp boosted its holdings in Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 154 shares during the last quarter. Hedge funds and other institutional investors 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.