Scotiabank Issues Pessimistic Forecast for Crown Castle (NYSE:CCI) Stock Price

Crown Castle (NYSE:CCI) had its price target lowered by Scotiabank from $94.00 to $91.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would indicate a potential upside of 6.15% from the company’s current price.

CCI has been the topic of several other research reports. The Goldman Sachs Group reduced their price objective on shares of Crown Castle from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. UBS Group decreased their target price on shares of Crown Castle from $116.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. HSBC decreased their target price on shares of Crown Castle from $107.00 to $88.40 and set a “hold” rating on the stock in a research report on Thursday, February 5th. KeyCorp decreased their target price on shares of Crown Castle from $115.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $85.00 target price (down from $90.00) on shares of Crown Castle in a research report on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.13.

Crown Castle Stock Performance

Shares of CCI opened at $85.73 on Tuesday. The company has a market capitalization of $37.38 billion, a price-to-earnings ratio of 84.88, a PEG ratio of 0.43 and a beta of 0.94. The company’s 50 day simple moving average is $85.68 and its 200 day simple moving average is $89.22. Crown Castle has a 1 year low of $75.96 and a 1 year high of $115.76.

Insider Activity at Crown Castle

In related news, VP Robert Sean Collins sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $87.49, for a total value of $262,470.00. Following the transaction, the vice president owned 5,800 shares in the company, valued at approximately $507,442. This trade represents a 34.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of the firm’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 transaction of $401,481.00. Following the completion of the transaction, the executive vice president owned 25,183 shares in the company, valued at $2,174,300.22. The trade was a 15.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Wiser Advisor Group LLC purchased a new position in Crown Castle in the third quarter valued at approximately $29,000. LRI Investments LLC purchased a new position in Crown Castle in the third quarter valued at approximately $29,000. Triumph Capital Management purchased a new position in Crown Castle in the third quarter valued at approximately $31,000. KERR FINANCIAL PLANNING Corp purchased a new position in Crown Castle in the third quarter valued at approximately $31,000. Finally, Cornerstone Planning Group LLC raised its holdings in Crown Castle by 269.9% in the third quarter. Cornerstone Planning Group LLC now owns 381 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 278 shares during the period. 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.