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

Crown Castle (NYSE:CCI) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other analysts also recently issued reports on the company. The Goldman Sachs Group decreased their target price on Crown Castle from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. KeyCorp dropped their price target on Crown Castle from $115.00 to $98.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Jefferies Financial Group reduced their price objective on shares of Crown Castle from $90.00 to $84.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. JPMorgan Chase & Co. lowered their target price on shares of Crown Castle from $110.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Finally, Scotiabank dropped their target price on shares of Crown Castle from $96.00 to $94.00 and set a “sector perform” rating for the company in a research report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.13.

Crown Castle Stock Up 1.5%

NYSE:CCI opened at $87.44 on Friday. The business’s 50-day simple moving average is $87.23 and its two-hundred day simple moving average is $90.94. Crown Castle has a 52 week low of $77.01 and a 52 week high of $115.76. The stock has a market cap of $38.13 billion, a PE ratio of 86.57, a P/E/G ratio of 0.44 and a beta of 0.96.

Insider Activity at Crown Castle

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

Institutional Trading of Crown Castle

A number of institutional investors have recently bought and sold shares of CCI. Foresight Group Ltd Liability Partnership lifted its stake in Crown Castle by 25.8% in the third quarter. Foresight Group Ltd Liability Partnership now owns 103,407 shares of the real estate investment trust’s stock worth $9,950,000 after purchasing an additional 21,194 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Crown Castle by 15.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,963 shares of the real estate investment trust’s stock valued at $6,847,000 after buying an additional 9,552 shares during the last quarter. Country Club Bank raised its holdings in shares of Crown Castle by 20.1% in the third quarter. Country Club Bank now owns 70,778 shares of the real estate investment trust’s stock worth $6,808,000 after buying an additional 11,851 shares during the period. Cooke & Bieler LP raised its holdings in shares of Crown Castle by 6.1% in the third quarter. Cooke & Bieler LP now owns 2,419,034 shares of the real estate investment trust’s stock worth $233,413,000 after buying an additional 138,061 shares during the period. Finally, National Pension Service lifted its stake in shares of Crown Castle by 3.5% during the 3rd quarter. National Pension Service now owns 656,795 shares of the real estate investment trust’s stock worth $63,374,000 after acquiring an additional 21,986 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

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.