Crown Castle (NYSE:CCI) Upgraded by Wells Fargo & Company to Equal Weight Rating

Crown Castle (NYSE:CCI - Get Free Report) was upgraded by research 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 presently 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 objective indicates a potential downside of 0.51% from the stock's previous close.

A number of other research analysts have also commented on the company. Barclays raised Crown Castle from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $117.00 to $104.00 in a report on Monday, January 13th. Jefferies Financial Group cut shares of Crown Castle from a "buy" rating to a "hold" rating and lowered their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Raymond James raised shares of Crown Castle from an "outperform" rating to a "strong-buy" rating and reduced their price target for the stock from $128.00 to $122.00 in a research note on Friday, March 14th. UBS Group upgraded shares of Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price objective on the stock in a research note on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Crown Castle from $116.00 to $96.00 and set a "hold" rating for the company in a research report on Thursday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Crown Castle presently has an average rating of "Moderate Buy" and an average price target of $110.29.

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Crown Castle Stock Performance

CCI stock traded up $0.60 on Monday, reaching $105.54. The company's stock had a trading volume of 1,947,227 shares, compared to its average volume of 2,593,213. Crown Castle has a 52 week low of $84.20 and a 52 week high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $45.87 billion, a P/E ratio of 37.47 and a beta of 0.89. The firm has a fifty day moving average of $91.64 and a two-hundred day moving average of $101.21.

Institutional Investors Weigh In On Crown Castle

A number of large investors have recently made changes to their positions in CCI. GSA Capital Partners LLP purchased a new stake in shares of Crown Castle in the third quarter valued at $522,000. CIBC Asset Management Inc raised its position in Crown Castle by 8.0% during the third quarter. CIBC Asset Management Inc now owns 64,047 shares of the real estate investment trust's stock valued at $7,598,000 after buying an additional 4,737 shares during the period. Empowered Funds LLC lifted its stake in Crown Castle by 13.5% in the 3rd quarter. Empowered Funds LLC now owns 12,842 shares of the real estate investment trust's stock worth $1,523,000 after acquiring an additional 1,531 shares in the last quarter. Natixis Advisors LLC boosted its position in Crown Castle by 15.0% during the 3rd quarter. Natixis Advisors LLC now owns 391,514 shares of the real estate investment trust's stock worth $46,445,000 after acquiring an additional 51,006 shares during the period. Finally, Swiss National Bank grew its stake in Crown Castle by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,289,700 shares of the real estate investment trust's stock valued at $152,997,000 after acquiring an additional 3,300 shares in the last quarter. Institutional investors and hedge funds 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.