Crown Castle (NYSE:CCI) Stock Rating Upgraded by Wells Fargo & Company

Crown Castle (NYSE:CCI) was upgraded by investment analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $105.00 target price on the real estate investment trust’s stock, up from their prior target price of $85.00. Wells Fargo & Company‘s price target indicates a potential upside of 1.75% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Moffett Nathanson cut their price objective on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $117.00 to $104.00 in a report on Monday, January 13th. Citigroup upped their target price on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research report on Friday. Finally, Raymond James raised Crown Castle from an “outperform” rating to a “strong-buy” rating and cut their price target for the stock from $128.00 to $122.00 in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and a consensus price target of $110.29.

Crown Castle Trading Up 8.5 %

NYSE:CCI opened at $103.20 on Monday. Crown Castle has a 1 year low of $84.20 and a 1 year high of $120.92. The stock has a market cap of $44.85 billion, a P/E ratio of 36.59 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. The stock has a 50-day simple moving average of $91.00 and a 200-day simple moving average of $101.32.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versor Investments LP grew its holdings in shares of Crown Castle by 120.0% during the fourth quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust’s stock worth $767,000 after buying an additional 4,608 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Crown Castle by 29.4% during the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after buying an additional 282,821 shares during the period. Oak Thistle LLC acquired a new stake in shares of Crown Castle during the fourth quarter worth $1,231,000. Avanza Fonder AB acquired a new position in shares of Crown Castle during the 4th quarter worth approximately $3,083,000. Finally, Fisher Asset Management LLC grew its holdings in shares of Crown Castle by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after purchasing an additional 203,442 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

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.