Crown Castle (NYSE:CCI) Given New $84.00 Price Target at Jefferies Financial Group

Crown Castle (NYSE:CCI) had its price target cut by analysts at Jefferies Financial Group from $90.00 to $84.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Jefferies Financial Group’s price target points to a potential downside of 1.12% from the company’s current price.

A number of other brokerages have also recently issued reports on CCI. New Street Research cut shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a research report on Monday, January 5th. Raymond James Financial cut their price objective on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating for the company in a report on Friday, January 23rd. Barclays reaffirmed an “equal weight” rating and set a $101.00 target price (down from $104.00) on shares of Crown Castle in a report on Monday, December 1st. Scotiabank cut their price target on Crown Castle from $114.00 to $96.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 14th. Finally, Zacks Research lowered Crown Castle from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $106.38.

Crown Castle Price Performance

Shares of NYSE CCI opened at $84.95 on Wednesday. The firm has a market capitalization of $37.00 billion, a P/E ratio of -7.94, a P/E/G ratio of 0.56 and a beta of 0.96. The company’s 50 day simple moving average is $88.01 and its 200 day simple moving average is $94.27. Crown Castle has a fifty-two week low of $83.21 and a fifty-two week high of $115.76.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Winnow Wealth LLC acquired a new position in Crown Castle in the 2nd quarter worth about $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Crown Castle during the second quarter worth $27,000. NewSquare Capital LLC lifted its holdings in Crown Castle by 74.5% during the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 120 shares during the period. LRI Investments LLC bought a new stake in shares of Crown Castle in the 3rd quarter valued at about $29,000. Finally, Wiser Advisor Group LLC acquired a new stake in shares of Crown Castle in the third quarter valued at about $29,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.