Crown Castle (NYSE:CCI) Coverage Initiated at Bank of America

Equities research analysts at Bank of America initiated coverage on shares of Crown Castle (NYSE:CCI) in a research note issued to investors on Thursday. The firm set a “neutral” rating and a $110.00 price target on the real estate investment trust’s stock. Bank of America‘s target price points to a potential upside of 5.16% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $85.00 to $105.00 in a research note on Monday. Raymond James upgraded shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $128.00 to $122.00 in a research note on Friday, March 14th. Barclays raised their price target on Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday. Moffett Nathanson dropped their target price on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.00.

Crown Castle Stock Up 0.2 %

Shares of CCI stock traded up $0.25 during mid-day trading on Thursday, hitting $104.60. The company’s stock had a trading volume of 484,855 shares, compared to its average volume of 3,112,919. The stock has a market cap of $45.46 billion, a price-to-earnings ratio of 37.09 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle has a 52-week low of $84.20 and a 52-week high of $120.92. The business has a 50-day moving average price of $91.98 and a 200 day moving average price of $101.23.

Institutional Trading of Crown Castle

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCI. 111 Capital bought a new position in Crown Castle in the 4th quarter worth approximately $455,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Crown Castle by 7.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 240,038 shares of the real estate investment trust’s stock valued at $21,786,000 after purchasing an additional 16,041 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Crown Castle in the fourth quarter worth about $12,637,000. Probity Advisors Inc. lifted its position in shares of Crown Castle by 13.9% in the fourth quarter. Probity Advisors Inc. now owns 4,558 shares of the real estate investment trust’s stock worth $414,000 after buying an additional 557 shares in the last quarter. Finally, Siemens Fonds Invest GmbH boosted its stake in Crown Castle by 811.5% during the fourth quarter. Siemens Fonds Invest GmbH now owns 49,593 shares of the real estate investment trust’s stock valued at $4,501,000 after buying an additional 44,152 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.