Crown Castle (NYSE:CCI) Stock Rating Lowered by Wall Street Zen

Crown Castle (NYSE:CCI) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other analysts also recently commented on the stock. Zacks Research downgraded shares of Crown Castle from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. The Goldman Sachs Group cut their price objective on shares of Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Scotiabank reduced their price objective on Crown Castle from $96.00 to $94.00 and set a “sector perform” rating for the company in a report on Thursday, February 5th. New Street Research lowered Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research note on Monday, January 5th. Finally, Wolfe Research cut Crown Castle from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and an average price target of $100.02.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $89.54 on Friday. The business has a fifty day simple moving average of $87.05 and a two-hundred day simple moving average of $91.85. Crown Castle has a 1 year low of $77.01 and a 1 year high of $115.76. The company has a market capitalization of $39.05 billion, a price-to-earnings ratio of 88.66, a P/E/G ratio of 0.44 and a beta of 0.96.

Insider Activity

In other news, EVP Edward B. Adams, Jr. sold 4,650 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $86.34, for a total value of $401,481.00. Following the completion of the transaction, the executive vice president directly owned 25,183 shares in the company, valued at approximately $2,174,300.22. The trade was a 15.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert Sean Collins sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $87.49, for a total transaction of $262,470.00. Following the sale, the vice president directly owned 5,800 shares of the company’s stock, valued at approximately $507,442. This trade represents a 34.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Winnow Wealth LLC bought a new position in shares of Crown Castle in the 2nd quarter valued at $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Crown Castle in the second quarter valued at about $27,000. NewSquare Capital LLC grew its position in Crown Castle by 74.5% in the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares during the last quarter. LRI Investments LLC acquired a new position in Crown Castle during the third quarter worth about $29,000. Finally, Wiser Advisor Group LLC acquired a new position in Crown Castle during the third quarter worth about $29,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.