JMP Securities Begins Coverage on Crown Castle (NYSE:CCI)

JMP Securities began coverage on shares of Crown Castle (NYSE:CCI) in a research note issued on Monday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $115.00 price target on the real estate investment trust’s stock. JMP Securities’ target price indicates a potential upside of 28.30% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. TD Cowen lowered their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Moffett Nathanson lowered their target price on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft cut their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. UBS Group raised their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company cut their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $110.13.

Crown Castle Stock Down 3.0 %

NYSE CCI opened at $89.63 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The business has a 50 day moving average price of $95.04 and a two-hundred day moving average price of $105.34. The stock has a market cap of $38.95 billion, a PE ratio of 31.78 and a beta of 0.87.

Hedge Funds Weigh In On Crown Castle

A number of large investors have recently bought and sold shares of CCI. APG Asset Management N.V. boosted its position in Crown Castle by 201.2% during the 2nd quarter. APG Asset Management N.V. now owns 52,093 shares of the real estate investment trust’s stock valued at $4,749,000 after purchasing an additional 34,800 shares during the period. Magnolia Capital Advisors LLC acquired a new position in shares of Crown Castle during the second quarter valued at $377,000. NewEdge Advisors LLC grew its position in shares of Crown Castle by 2.1% during the second quarter. NewEdge Advisors LLC now owns 17,879 shares of the real estate investment trust’s stock worth $1,747,000 after acquiring an additional 372 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Crown Castle by 47.7% in the 2nd quarter. Sunbelt Securities Inc. now owns 3,368 shares of the real estate investment trust’s stock worth $329,000 after acquiring an additional 1,087 shares during the period. Finally, Invst LLC lifted its position in Crown Castle by 9.4% in the 2nd quarter. Invst LLC now owns 7,517 shares of the real estate investment trust’s stock valued at $722,000 after purchasing an additional 644 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

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.