BMO Capital Markets Trims Crown Castle (NYSE:CCI) Target Price to $105.00

Crown Castle (NYSE:CCI) had its target price reduced by analysts at BMO Capital Markets from $110.00 to $105.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price target suggests a potential upside of 12.87% from the company’s previous close.

Separately, Royal Bank of Canada boosted their target price on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 21st. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $118.57.

Crown Castle Trading Down 1.0 %

Shares of Crown Castle stock opened at $93.03 on Thursday. The stock has a market cap of $40.42 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 2.50 and a beta of 0.73. The firm has a fifty day moving average price of $105.41 and a 200 day moving average price of $105.15. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.40 and a quick ratio of 0.40. Crown Castle has a 1 year low of $84.72 and a 1 year high of $134.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCI. Norges Bank purchased a new position in shares of Crown Castle in the fourth quarter worth about $581,503,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of Crown Castle by 90,084.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,487,430 shares of the real estate investment trust’s stock worth $473,035,000 after purchasing an additional 3,483,563 shares during the last quarter. Barclays PLC grew its position in shares of Crown Castle by 78.7% in the fourth quarter. Barclays PLC now owns 5,463,901 shares of the real estate investment trust’s stock valued at $629,386,000 after purchasing an additional 2,405,768 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Crown Castle by 42.8% in the third quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after purchasing an additional 2,121,603 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Crown Castle by 21.9% during the third quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock worth $932,682,000 after buying an additional 1,818,910 shares during the last quarter. Hedge funds and other 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.