Crown Castle (NYSE:CCI) Price Target Lowered to $85.00 at Wells Fargo & Company

Crown Castle (NYSE:CCI) had its price target lowered by investment analysts at Wells Fargo & Company from $100.00 to $85.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 2.62% from the stock’s current price.

A number of other research analysts have also recently weighed in on CCI. The Goldman Sachs Group lifted their target price on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Royal Bank of Canada boosted their price target on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. Citigroup set a $128.00 price target on shares of Crown Castle in a research note on Thursday, October 17th. Finally, TD Cowen decreased their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $111.93.

Crown Castle Stock Performance

NYSE:CCI traded down $1.14 during trading hours on Thursday, reaching $87.29. The company had a trading volume of 94,213 shares, compared to its average volume of 3,173,343. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle has a 52 week low of $84.20 and a 52 week high of $120.92. The firm has a market cap of $37.93 billion, a price-to-earnings ratio of 30.96 and a beta of 0.87. The firm’s 50 day moving average price is $95.88 and its 200-day moving average price is $105.47.

Institutional Investors Weigh In On Crown Castle

Hedge funds and other institutional investors have recently bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new position in shares of Crown Castle in the third quarter worth $25,000. Rosenberg Matthew Hamilton grew its position in Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 136 shares during the period. FNY Investment Advisers LLC grew its position in Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 300 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Crown Castle during the third quarter valued at $47,000. Finally, Friedenthal Financial acquired a new stake in Crown Castle during the third quarter valued at $50,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Company Profile

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.