Crown Castle (NYSE:CCI) Upgraded by Wells Fargo & Company to “Equal Weight” Rating

Crown Castle (NYSE:CCI) was upgraded by stock analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research note issued on Monday. The brokerage currently 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 target price would suggest a potential upside of 1.75% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. KeyCorp raised shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price target on the stock in a research report on Friday. UBS Group raised shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Friday. JMP Securities began coverage on Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 target price for the company. Wolfe Research raised shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a report on Monday. Finally, Barclays raised 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 report on Monday, January 13th. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and a consensus price target of $110.29.

Crown Castle Stock Performance

Shares of CCI opened at $103.20 on Monday. The firm’s fifty day simple moving average is $91.00 and its two-hundred day simple moving average is $101.32. The stock has a market capitalization of $44.85 billion, a P/E ratio of 36.59 and a beta of 0.89. 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 12 month low of $84.20 and a 12 month high of $120.92.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Crown Castle in the 4th quarter valued at $12,637,000. Probity Advisors Inc. increased its stake in Crown Castle by 13.9% in the fourth quarter. Probity Advisors Inc. now owns 4,558 shares of the real estate investment trust’s stock valued at $414,000 after purchasing an additional 557 shares during the last quarter. Siemens Fonds Invest GmbH lifted its stake in Crown Castle by 811.5% in the fourth quarter. Siemens Fonds Invest GmbH now owns 49,593 shares of the real estate investment trust’s stock valued at $4,501,000 after buying an additional 44,152 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Crown Castle in the fourth quarter valued at $45,348,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Crown Castle in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.