Wells Fargo & Company Upgrades Crown Castle (NYSE:CCI) to "Equal Weight"

Crown Castle (NYSE:CCI - Get Free Report) was upgraded by 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 objective would suggest a potential upside of 0.09% from the stock's current price.

Other equities research analysts also recently issued reports about the stock. UBS Group upgraded shares of Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price objective for the company in a research note on Friday. KeyCorp upgraded shares of Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 price objective for the company in a research note on Friday. Wolfe Research upgraded shares of Crown Castle from an "underperform" rating to a "peer perform" rating in a research note on Monday. JMP Securities assumed coverage on shares of Crown Castle in a research note on Monday, January 27th. They set an "outperform" rating and a $115.00 price objective for the company. Finally, Scotiabank lowered their price objective on shares of Crown Castle from $102.00 to $99.00 and set a "sector perform" rating for the company in a research note on Friday. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $110.29.

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Crown Castle Stock Up 1.9 %

NYSE CCI traded up $1.99 on Monday, hitting $104.90. The stock had a trading volume of 5,314,156 shares, compared to its average volume of 2,596,103. Crown Castle has a 52-week low of $84.20 and a 52-week high of $120.92. The business's fifty day moving average price is $91.64 and its 200 day moving average price is $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. The stock has a market cap of $45.59 billion, a price-to-earnings ratio of 37.20 and a beta of 0.89.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Versor Investments LP increased its stake in shares of Crown Castle by 120.0% during the fourth quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust's stock worth $767,000 after purchasing an additional 4,608 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Crown Castle by 29.4% during the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust's stock worth $113,465,000 after purchasing an additional 282,821 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of Crown Castle during the fourth quarter worth about $1,231,000. Avanza Fonder AB purchased a new stake in shares of Crown Castle during the fourth quarter worth about $3,083,000. Finally, Fisher Asset Management LLC increased its stake in shares of Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust's stock worth $603,592,000 after purchasing an additional 203,442 shares in the last quarter. Institutional investors and hedge funds 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.