Crown Castle (NYSE:CCI) Raised to Overweight at KeyCorp

Crown Castle (NYSE:CCI) was upgraded by equities researchers at KeyCorp from a “sector weight” rating to an “overweight” rating in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm presently has a $120.00 price objective on the real estate investment trust’s stock. KeyCorp’s price objective would suggest a potential upside of 26.42% from the company’s previous close.

Several other equities analysts also recently issued reports on CCI. Wells Fargo & Company dropped their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, January 23rd. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. JMP Securities began coverage on shares of Crown Castle in a research note on Monday, January 27th. They set an “outperform” rating and a $115.00 price target for the company. Moffett Nathanson lowered their target price on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their target price for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $109.18.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $94.92 on Friday. Crown Castle has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $41.25 billion, a P/E ratio of 33.66 and a beta of 0.89. The company’s 50 day moving average price is $90.74 and its two-hundred day moving average price is $101.55.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CCI. Twin Tree Management LP acquired a new position in shares of Crown Castle during the fourth quarter valued at about $25,000. FNY Investment Advisers LLC grew its holdings in shares of Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 300 shares during the last quarter. Roxbury Financial LLC acquired a new position in shares of Crown Castle during the fourth quarter valued at about $37,000. Vermillion Wealth Management Inc. purchased a new position in Crown Castle during the fourth quarter worth about $38,000. Finally, Investors Research Corp boosted its holdings in Crown Castle by 57.2% during the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 154 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.