Brokerages Set Crown Castle Inc. (NYSE:CCI) Price Target at $100.02

Crown Castle Inc. (NYSE:CCI) has received a consensus recommendation of “Hold” from the twenty analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $100.0235.

Several equities analysts have commented on the stock. HSBC decreased their price objective on shares of Crown Castle from $107.00 to $88.40 and set a “hold” rating on the stock in a report on Thursday, February 5th. KeyCorp cut their price objective on shares of Crown Castle from $115.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Royal Bank Of Canada lowered their target price on Crown Castle from $112.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. BMO Capital Markets reduced their price target on Crown Castle from $97.00 to $91.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. Finally, Zacks Research lowered Crown Castle from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th.

Crown Castle Stock Up 1.8%

Shares of NYSE CCI opened at $88.02 on Wednesday. The business’s 50 day moving average price is $87.06 and its two-hundred day moving average price is $92.45. The company has a market cap of $38.33 billion, a PE ratio of 87.15, a price-to-earnings-growth ratio of 0.44 and a beta of 0.96. Crown Castle has a twelve month low of $77.01 and a twelve month high of $115.76.

Institutional Trading of Crown Castle

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC increased its holdings in shares of Crown Castle by 7.5% during the first quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock worth $1,714,000 after purchasing an additional 1,150 shares during the period. Allspring Global Investments Holdings LLC grew its position in Crown Castle by 1.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 35,596 shares of the real estate investment trust’s stock worth $3,692,000 after buying an additional 565 shares in the last quarter. Mutual of America Capital Management LLC grew its position in Crown Castle by 10.1% during the second quarter. Mutual of America Capital Management LLC now owns 55,643 shares of the real estate investment trust’s stock worth $5,716,000 after buying an additional 5,105 shares in the last quarter. Bogart Wealth LLC increased its stake in Crown Castle by 55.5% during the 2nd quarter. Bogart Wealth LLC now owns 339 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 121 shares during the period. Finally, Probity Advisors Inc. raised its holdings in Crown Castle by 11.0% in the 2nd quarter. Probity Advisors Inc. now owns 6,418 shares of the real estate investment trust’s stock valued at $659,000 after acquiring an additional 636 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

About Crown Castle

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.