Crown Castle (NYSE:CCI) Coverage Initiated at JMP Securities

Research analysts at JMP Securities assumed coverage on shares of Crown Castle (NYSE:CCI) in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $115.00 price target on the real estate investment trust’s stock. JMP Securities’ target price would suggest a potential upside of 29.96% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company lowered their price target on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday. UBS Group lifted their price target on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Citigroup set a $128.00 price objective on shares of Crown Castle in a research report on Thursday, October 17th. Finally, Moffett Nathanson decreased their target price on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.13.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $88.49 on Monday. The firm has a 50 day moving average of $95.29 and a 200-day moving average of $105.41. Crown Castle has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market capitalization of $38.46 billion, a PE ratio of 31.38 and a beta of 0.87.

Institutional Investors Weigh In On Crown Castle

A number of institutional investors have recently modified their holdings of the company. Nordea Investment Management AB grew its stake in Crown Castle by 29.4% during the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after purchasing an additional 282,821 shares during the period. Van ECK Associates Corp grew its position in shares of Crown Castle by 24.7% during the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after buying an additional 31,319 shares during the period. Oak Thistle LLC bought a new stake in shares of Crown Castle in the 4th quarter valued at $1,231,000. Avanza Fonder AB acquired a new position in shares of Crown Castle during the 4th quarter valued at $3,083,000. Finally, Fisher Asset Management LLC boosted its stake in Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after acquiring an additional 203,442 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

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.