Citigroup Issues Pessimistic Forecast for Crown Castle (NYSE:CCI) Stock Price

Crown Castle (NYSE:CCI - Get Free Report) 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 brokerage currently has a "buy" rating on the real estate investment trust's stock. Citigroup's price objective would suggest a potential upside of 20.24% from the stock's current price.

Several other research firms have also commented on CCI. Citizens Jmp upgraded shares of Crown Castle to a "strong-buy" rating in a research report on Monday, January 27th. Royal Bank of Canada raised their price target on shares of Crown Castle from $104.00 to $109.00 and gave the company a "sector perform" rating in a research note on Monday, October 28th. TD Cowen cut their target price on Crown Castle from $127.00 to $123.00 and set a "buy" rating on the stock in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered their price target on Crown Castle from $116.00 to $96.00 and set a "hold" rating on the stock in a report on Thursday, January 23rd. Finally, Jefferies Financial Group downgraded shares of Crown Castle from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Crown Castle presently has a consensus rating of "Hold" and a consensus price target of $108.75.

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Crown Castle Stock Down 1.9 %

Shares of CCI stock traded down $1.72 during trading hours on Thursday, hitting $88.15. 3,411,339 shares of the company were exchanged, compared to its average volume of 2,827,630. The stock has a market capitalization of $38.31 billion, a price-to-earnings ratio of 31.26 and a beta of 0.88. Crown Castle has a one year low of $84.20 and a one year high of $120.92. The business's 50-day simple moving average is $90.70 and its two-hundred day simple moving average is $103.73. 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 Trading of Crown Castle

A number of institutional investors and hedge funds have recently modified their holdings of the company. AMF Tjanstepension AB boosted its holdings in Crown Castle by 11.7% during the third quarter. AMF Tjanstepension AB now owns 166,922 shares of the real estate investment trust's stock valued at $19,835,000 after acquiring an additional 17,524 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Crown Castle during the 3rd quarter worth about $120,000. CX Institutional boosted its stake in Crown Castle by 11.5% during the 3rd quarter. CX Institutional now owns 2,612 shares of the real estate investment trust's stock valued at $310,000 after purchasing an additional 269 shares during the period. Swedbank AB grew its holdings in Crown Castle by 0.4% in the 3rd quarter. Swedbank AB now owns 248,150 shares of the real estate investment trust's stock valued at $29,438,000 after buying an additional 898 shares during the last quarter. Finally, Tsfg LLC increased its position in Crown Castle by 27.5% in the 3rd quarter. Tsfg LLC now owns 542 shares of the real estate investment trust's stock worth $64,000 after buying an additional 117 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.