Crown Castle (NYSE:CCI) Given New $113.00 Price Target at Barclays

Crown Castle (NYSE:CCI) had its price target increased by stock analysts at Barclays from $104.00 to $113.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price target points to a potential upside of 9.02% from the stock’s current price.

Several other research firms have also commented on CCI. Wells Fargo & Company upgraded Crown Castle from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $85.00 to $105.00 in a research note on Monday. JMP Securities assumed coverage on shares of Crown Castle in a research note on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective for the company. Jefferies Financial Group cut shares of 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 research report on Thursday, January 2nd. Raymond James upgraded shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and lowered their target price for the company from $128.00 to $122.00 in a report on Friday. Finally, Citigroup increased their price target on shares of Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Crown Castle currently has an average rating of “Moderate Buy” and a consensus price target of $110.82.

Crown Castle Trading Up 0.4 %

CCI stock traded up $0.44 during midday trading on Monday, hitting $103.66. The stock had a trading volume of 1,224,843 shares, compared to its average volume of 2,563,718. Crown Castle has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a market cap of $45.05 billion, a PE ratio of 36.81 and a beta of 0.89. The company’s 50-day moving average price is $91.00 and its 200 day moving average price is $101.32. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Institutional Investors Weigh In On Crown Castle

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Crown Castle during the 4th quarter valued at approximately $561,714,000. Vanguard Group Inc. raised its holdings in Crown Castle by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock valued at $5,672,451,000 after acquiring an additional 5,934,615 shares in the last quarter. Wellington Management Group LLP boosted its stake in Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after acquiring an additional 3,371,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Crown Castle by 433.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after acquiring an additional 3,225,460 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Crown Castle by 37.3% in the 4th quarter. National Bank of Canada FI now owns 5,793,842 shares of the real estate investment trust’s stock worth $525,849,000 after purchasing an additional 1,573,043 shares during the last quarter. Hedge funds and other 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.