Crown Castle (NYSE:CCI) Price Target Cut to $85.00 by Analysts at Wells Fargo & Company

Crown Castle (NYSE:CCI) had its price objective dropped by equities researchers at Wells Fargo & Company from $100.00 to $85.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price points to a potential downside of 3.94% from the company’s previous close.

A number of other brokerages also recently issued reports on CCI. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $117.00 to $104.00 in a report on Monday, January 13th. TD Cowen dropped their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Citigroup set a $128.00 price objective on shares of Crown Castle in a report on Thursday, October 17th. Finally, The Goldman Sachs Group raised their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $109.80.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $88.49 on Thursday. The firm’s 50-day moving average price is $95.59 and its 200-day moving average price is $105.36. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a market cap of $38.46 billion, a PE ratio of 31.38 and a beta of 0.87. Crown Castle has a 52-week low of $84.20 and a 52-week high of $120.92.

Institutional Investors Weigh In On Crown Castle

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new stake in shares of Crown Castle during the third quarter valued at approximately $25,000. Rosenberg Matthew Hamilton raised its position in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 136 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Crown Castle during the third quarter valued at approximately $47,000. FNY Investment Advisers LLC raised its position in shares of Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 300 shares during the last quarter. Finally, Investors Research Corp raised its position in shares of Crown Castle by 57.2% during the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 154 shares during 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.