Crown Castle (NYSE:CCI) Upgraded at Wolfe Research

Crown Castle (NYSE:CCI) was upgraded by equities researchers at Wolfe Research from an “underperform” rating to a “peer perform” rating in a research report issued on Monday.

A number of other brokerages have also recently issued reports on CCI. Moffett Nathanson dropped their target price on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and decreased their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Citigroup raised their price target on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a report on Friday. Finally, JMP Securities assumed coverage on shares of Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.29.

Crown Castle Price Performance

Shares of CCI opened at $103.20 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The company’s fifty day simple moving average is $91.00 and its 200 day simple moving average is $101.32. Crown Castle has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a market cap of $44.85 billion, a price-to-earnings ratio of 36.59 and a beta of 0.89.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Versor Investments LP boosted its stake in shares of Crown Castle by 120.0% in the 4th quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust’s stock valued at $767,000 after purchasing an additional 4,608 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Crown Castle by 29.4% during the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after buying an additional 282,821 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Crown Castle during the fourth quarter worth $1,231,000. Avanza Fonder AB bought a new position in shares of Crown Castle in the 4th quarter valued at $3,083,000. Finally, Fisher Asset Management LLC boosted its holdings in shares of Crown Castle by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after acquiring an additional 203,442 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Company Profile

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.