Crown Castle (NYSE:CCI) Earns Outperform Rating from Analysts at JMP Securities

JMP Securities started coverage on shares of Crown Castle (NYSE:CCI) in a research report issued on Monday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $115.00 price target on the real estate investment trust’s stock. JMP Securities’ price target indicates a potential upside of 29.96% from the company’s previous close.

A number of other research firms also recently weighed in on CCI. Royal Bank of Canada raised their target price on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Citigroup set a $128.00 target price on Crown Castle in a research report on Thursday, October 17th. UBS Group raised their price target on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Scotiabank dropped their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $117.00 to $104.00 in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $110.13.

Crown Castle Stock Down 0.2 %

Shares of Crown Castle stock opened at $88.49 on Monday. The firm has a market cap of $38.46 billion, a PE ratio of 31.38 and a beta of 0.87. The business’s 50 day simple moving average is $95.29 and its 200 day simple moving average is $105.41. 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.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after acquiring an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Crown Castle by 433.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after purchasing an additional 3,225,460 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Crown Castle by 13,271.6% during the 3rd quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock worth $115,449,000 after purchasing an additional 965,907 shares in the last quarter. State Street Corp increased its holdings in shares of Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after purchasing an additional 747,390 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in shares of Crown Castle by 25.4% in the third quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock valued at $375,610,000 after buying an additional 642,010 shares in the last quarter. 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.