JPMorgan Chase & Co. Has Lowered Expectations for Crown Castle (NYSE:CCI) Stock Price

Crown Castle (NYSE:CCI) had its price target decreased by analysts at JPMorgan Chase & Co. from $121.00 to $115.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.63% from the stock’s current price.

A number of other analysts have also weighed in on CCI. KeyCorp upgraded shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a research note on Friday, March 14th. Raymond James upgraded shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and cut their price objective for the stock from $128.00 to $122.00 in a research note on Friday, March 14th. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Moffett Nathanson dropped their price target on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.29.

Crown Castle Stock Up 1.9 %

NYSE:CCI opened at $104.90 on Monday. The firm has a market capitalization of $45.59 billion, a P/E ratio of 37.20 and a beta of 0.89. Crown Castle has a 1-year low of $84.20 and a 1-year high of $120.92. The company’s fifty day moving average price is $91.64 and its 200-day moving average price is $101.21. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Hedge Funds Weigh In On Crown Castle

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Crown Castle by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock worth $5,672,451,000 after buying an additional 5,934,615 shares in the last quarter. State Street Corp lifted its stake in shares of Crown Castle by 3.7% in the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after buying an additional 747,390 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Crown Castle by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust’s stock worth $1,892,332,000 after buying an additional 3,321,249 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Crown Castle by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust’s stock worth $1,119,225,000 after buying an additional 228,007 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Crown Castle in the fourth quarter worth about $561,714,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.