JPMorgan Chase & Co. Cuts Crown Castle (NYSE:CCI) Price Target to $115.00

Crown Castle (NYSE:CCI) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $121.00 to $115.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 11.43% from the stock’s previous close.

Several other equities research analysts have also recently commented on CCI. Wolfe Research upgraded Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday. Scotiabank decreased their target price 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. Barclays boosted their price target on shares of Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.29.

Crown Castle Stock Down 0.0 %

Shares of NYSE CCI traded down $0.01 during mid-day trading on Monday, reaching $103.21. 2,735,131 shares of the company’s stock were exchanged, compared to its average volume of 2,569,575. 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 business has a fifty day simple moving average of $91.00 and a 200 day simple moving average of $101.32. Crown Castle has a twelve month low of $84.20 and a twelve month high of $120.92. The firm has a market capitalization of $44.85 billion, a price-to-earnings ratio of 36.62 and a beta of 0.89.

Hedge Funds Weigh In On Crown Castle

A number of hedge funds have recently bought and sold shares of CCI. Norges Bank bought a new stake in Crown Castle during the fourth quarter valued at $561,714,000. Vanguard Group Inc. lifted its stake in shares of Crown Castle by 10.5% in the 4th 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 purchasing an additional 5,934,615 shares during the period. Wellington Management Group LLP boosted its position in shares of 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 purchasing an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Crown Castle by 433.8% during the third 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 purchasing an additional 3,225,460 shares during the period. Finally, National Bank of Canada FI increased its holdings in Crown Castle by 37.3% in the fourth 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 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.