Crown Castle (NYSE:CCI) Price Target Lowered to $91.00 at Barclays

Crown Castle (NYSE:CCI) had its price target decreased by Barclays from $101.00 to $91.00 in a research note released on Tuesday, Marketbeat.com reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

Other equities analysts also recently issued research reports about the stock. Citigroup reduced their price objective on shares of Crown Castle from $110.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. UBS Group cut their price target on Crown Castle from $116.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, February 5th. JPMorgan Chase & Co. decreased their price objective on Crown Castle from $110.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crown Castle in a research report on Monday, December 29th. Finally, Jefferies Financial Group reduced their target price on Crown Castle from $90.00 to $84.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $100.02.

Crown Castle Stock Up 1.7%

CCI opened at $91.92 on Tuesday. The firm has a market cap of $40.03 billion, a P/E ratio of 91.01, a PEG ratio of 0.46 and a beta of 0.96. The business’s fifty day simple moving average is $87.29 and its 200 day simple moving average is $92.66. Crown Castle has a 52 week low of $77.01 and a 52 week high of $115.76.

Institutional Trading of Crown Castle

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

Crown Castle Company Profile

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.