Crown Castle (NYSE:CCI) Price Target Cut to $115.00 by Analysts at JPMorgan Chase & Co.

Crown Castle (NYSE:CCI - Get Free Report) had its price target reduced by stock analysts at JPMorgan Chase & Co. from $121.00 to $115.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 10.02% from the stock's previous close.

A number of other brokerages also recently commented on CCI. Wells Fargo & Company raised Crown Castle from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $85.00 to $105.00 in a report on Monday. Jefferies Financial Group downgraded Crown Castle from a "buy" rating to a "hold" rating and reduced their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Moffett Nathanson reduced their target price on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft reduced 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. Finally, Scotiabank reduced their target price on Crown Castle from $102.00 to $99.00 and set a "sector perform" rating on the stock in a report on Friday, March 14th. 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $110.29.

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Crown Castle Stock Down 0.4 %

CCI traded down $0.42 on Monday, reaching $104.52. The company's stock had a trading volume of 6,221,308 shares, compared to its average volume of 2,609,554. The stock has a market cap of $45.43 billion, a price-to-earnings ratio of 37.07 and a beta of 0.89. Crown Castle has a 1 year low of $84.20 and a 1 year 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 business's 50 day moving average is $91.64 and its 200 day moving average is $101.21.

Institutional Trading of Crown Castle

Several hedge funds have recently added to or reduced their stakes in the business. Napa Wealth Management raised its stake in Crown Castle by 4.6% during the 3rd quarter. Napa Wealth Management now owns 2,765 shares of the real estate investment trust's stock valued at $328,000 after acquiring an additional 122 shares in the last quarter. Accurate Wealth Management LLC raised its stake in Crown Castle by 5.4% during the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust's stock valued at $205,000 after acquiring an additional 124 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Crown Castle by 12.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust's stock valued at $103,000 after acquiring an additional 126 shares in the last quarter. IFP Advisors Inc raised its stake in Crown Castle by 5.9% during the 4th quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust's stock valued at $216,000 after acquiring an additional 133 shares in the last quarter. Finally, Howard Capital Management Inc. raised its stake in Crown Castle by 1.2% during the 4th quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust's stock valued at $1,041,000 after acquiring an additional 135 shares in the last quarter. Institutional investors 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.