Royal Bank of Canada Has Lowered Expectations for Crown Castle (NYSE:CCI) Stock Price

Crown Castle (NYSE:CCI - Get Free Report) had its target price lowered by equities research analysts at Royal Bank of Canada from $109.00 to $107.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank of Canada's price objective would suggest a potential upside of 7.15% from the company's previous close.

CCI has been the subject of several other research reports. Wells Fargo & Company upgraded Crown Castle from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $85.00 to $105.00 in a report on Monday, March 17th. Wolfe Research raised Crown Castle from an "underperform" rating to a "peer perform" rating in a research report on Monday, March 17th. Barclays increased their price objective on Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a report on Monday, March 17th. Jefferies Financial Group downgraded shares of Crown Castle from a "buy" rating to a "hold" rating and lowered their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Scotiabank decreased 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 report on Friday, March 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $109.88.

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Crown Castle Stock Up 3.3 %

Shares of CCI stock traded up $3.19 during trading on Friday, reaching $99.86. The company's stock had a trading volume of 2,927,815 shares, compared to its average volume of 2,922,237. Crown Castle has a one year low of $84.20 and a one year high of $120.92. The business has a fifty day moving average price of $96.56 and a 200-day moving average price of $99.10. The company has a market cap of $43.48 billion, a price-to-earnings ratio of 35.41 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Institutional Investors Weigh In On Crown Castle

A number of hedge funds and other institutional investors have recently made changes to their positions in CCI. CHICAGO TRUST Co NA increased its stake in Crown Castle by 3.0% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock worth $368,000 after acquiring an additional 104 shares during the period. Accurate Wealth Management LLC increased its position in shares of Crown Castle by 5.4% in the fourth quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust's stock worth $205,000 after purchasing an additional 124 shares during the period. Exchange Traded Concepts LLC lifted its position in Crown Castle by 12.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust's stock worth $103,000 after purchasing an additional 126 shares during the period. IFP Advisors Inc grew its stake in Crown Castle by 5.9% during the fourth quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust's stock worth $216,000 after buying an additional 133 shares in the last quarter. Finally, Howard Capital Management Inc. grew its stake in Crown Castle by 1.2% during the fourth quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust's stock worth $1,041,000 after buying an additional 135 shares in 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.