Crown Castle Inc. (NYSE:CCI) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Crown Castle Inc. (NYSE:CCI) have earned a consensus recommendation of “Hold” from the twenty research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $100.0235.

CCI has been the subject of a number of research analyst reports. HSBC dropped their target price on shares of Crown Castle from $107.00 to $88.40 and set a “hold” rating for the company in a research note on Thursday, February 5th. KeyCorp dropped their price objective on shares of Crown Castle from $115.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Scotiabank decreased their price objective on Crown Castle from $96.00 to $94.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 5th. The Goldman Sachs Group lowered their target price on Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Finally, Raymond James Financial cut their price target on Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 23rd.

Crown Castle Stock Up 1.7%

Shares of NYSE CCI opened at $91.92 on Wednesday. Crown Castle has a 12-month low of $77.01 and a 12-month high of $115.76. The firm’s 50-day simple moving average is $87.29 and its 200 day simple moving average is $92.66. The company has a market cap of $40.03 billion, a price-to-earnings ratio of 91.01, a price-to-earnings-growth ratio of 0.46 and a beta of 0.96.

Institutional Investors Weigh In On Crown Castle

Several institutional investors have recently modified their holdings of the business. Winnow Wealth LLC acquired a new position in Crown Castle in the second quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Crown Castle during the 2nd quarter valued at $27,000. NewSquare Capital LLC lifted its stake in shares of Crown Castle by 74.5% in the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares during the period. LRI Investments LLC acquired a new position in shares of Crown Castle in the 3rd quarter valued at $29,000. Finally, Wiser Advisor Group LLC bought a new position in shares of Crown Castle in the 3rd quarter worth $29,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.