Crown Castle (NYSE:CCI) Upgraded by Raymond James to Strong-Buy Rating

Crown Castle (NYSE:CCI) was upgraded by equities researchers at Raymond James from an “outperform” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The brokerage presently has a $122.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $128.00. Raymond James’ price objective points to a potential upside of 28.52% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company reduced their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. JMP Securities assumed coverage on shares of Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their price objective for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $109.18.

Crown Castle Trading Down 0.4 %

CCI opened at $94.92 on Friday. Crown Castle has a fifty-two week low of $84.20 and a fifty-two week 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 firm has a market capitalization of $41.25 billion, a price-to-earnings ratio of 33.66 and a beta of 0.89. The company’s 50 day moving average price is $90.74 and its two-hundred day moving average price is $101.55.

Institutional Trading of Crown Castle

Institutional investors have recently made changes to their positions in the company. Twin Tree Management LP bought a new stake in shares of Crown Castle in the 4th quarter worth $25,000. FNY Investment Advisers LLC grew its position in 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 period. Roxbury Financial LLC bought a new position in Crown Castle during the fourth quarter valued at about $37,000. Vermillion Wealth Management Inc. bought a new position in Crown Castle during the fourth quarter valued at about $38,000. Finally, Investors Research Corp grew its position in 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 period. 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.