Crown Castle (NYSE:CCI) Price Target Raised to $109.00 at Scotiabank

Crown Castle (NYSE:CCI - Get Free Report) had its price target upped by analysts at Scotiabank from $99.00 to $109.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's price target would indicate a potential upside of 5.38% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. Raymond James upgraded Crown Castle from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the stock from $128.00 to $122.00 in a report on Friday, March 14th. JMP Securities assumed coverage on Crown Castle in a report on Monday, January 27th. They issued an "outperform" rating and a $115.00 price objective on the stock. Citizens Jmp upgraded shares of Crown Castle to a "strong-buy" rating in a research report on Monday, January 27th. Jefferies Financial Group cut shares of Crown Castle from a "buy" rating to a "hold" rating and dropped their price objective for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, StockNews.com upgraded Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $110.47.

Crown Castle Stock Performance

NYSE:CCI opened at $103.44 on Tuesday. The company has a fifty day moving average of $97.97 and a two-hundred day moving average of $98.51. Crown Castle has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The stock has a market capitalization of $45.04 billion, a PE ratio of 36.66 and a beta of 0.93. 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 Investors Weigh In On Crown Castle

A number of hedge funds and other institutional investors have recently modified their holdings of CCI. Stonegate Investment Group LLC increased its holdings in shares of Crown Castle by 11.4% in the 1st quarter. Stonegate Investment Group LLC now owns 23,212 shares of the real estate investment trust's stock valued at $2,419,000 after acquiring an additional 2,384 shares during the last quarter. Abundance Wealth Counselors boosted its holdings in shares of Crown Castle by 41.4% in the 1st quarter. Abundance Wealth Counselors now owns 11,636 shares of the real estate investment trust's stock valued at $1,213,000 after buying an additional 3,408 shares in the last quarter. Blue Trust Inc. grew its position in shares of Crown Castle by 19.8% in the 1st quarter. Blue Trust Inc. now owns 1,911 shares of the real estate investment trust's stock valued at $199,000 after buying an additional 316 shares during the last quarter. Global X Japan Co. Ltd. raised its stake in Crown Castle by 25.8% during the 1st quarter. Global X Japan Co. Ltd. now owns 1,291 shares of the real estate investment trust's stock worth $135,000 after acquiring an additional 265 shares in the last quarter. Finally, Premier Path Wealth Partners LLC lifted its position in Crown Castle by 13.8% in the first quarter. Premier Path Wealth Partners LLC now owns 3,266 shares of the real estate investment trust's stock valued at $340,000 after acquiring an additional 397 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.