JPMorgan Chase & Co. Has Lowered Expectations for Crown Castle (NYSE:CCI) Stock Price

Crown Castle (NYSE:CCI - Get Free Report) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $121.00 to $115.00 in a report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 9.63% from the company's current price.

Several other analysts have also recently commented on the company. JMP Securities started coverage on Crown Castle in a report on Monday, January 27th. They set an "outperform" rating and a $115.00 target price on the stock. Citizens Jmp upgraded Crown Castle to a "strong-buy" rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft decreased their target price on Crown Castle from $116.00 to $96.00 and set a "hold" rating on the stock in a report on Thursday, January 23rd. Scotiabank cut their price target on Crown Castle from $102.00 to $99.00 and set a "sector perform" rating on the stock in a research note on Friday. Finally, KeyCorp raised Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 price target on the stock in a research note on Friday. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $110.29.

Remove Ads

Crown Castle Price Performance

Shares of CCI stock traded up $1.99 during trading hours on Monday, hitting $104.90. 5,314,156 shares of the company's stock were exchanged, compared to its average volume of 2,595,108. The stock's 50-day moving average is $91.64 and its 200-day moving average 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. Crown Castle has a 52 week low of $84.20 and a 52 week high of $120.92.

Hedge Funds Weigh In On Crown Castle

Hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new stake in shares of Crown Castle in the third quarter worth about $522,000. CIBC Asset Management Inc increased its holdings in shares of Crown Castle by 8.0% in the third quarter. CIBC Asset Management Inc now owns 64,047 shares of the real estate investment trust's stock worth $7,598,000 after acquiring an additional 4,737 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Crown Castle by 13.5% during the third quarter. Empowered Funds LLC now owns 12,842 shares of the real estate investment trust's stock worth $1,523,000 after buying an additional 1,531 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Crown Castle by 15.0% during the third quarter. Natixis Advisors LLC now owns 391,514 shares of the real estate investment trust's stock worth $46,445,000 after buying an additional 51,006 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Crown Castle by 0.3% during the third quarter. Swiss National Bank now owns 1,289,700 shares of the real estate investment trust's stock worth $152,997,000 after buying an additional 3,300 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.