Crown Castle (NYSE:CCI) Coverage Initiated by Analysts at Bank of America

Bank of America assumed coverage on shares of Crown Castle (NYSE:CCI) in a report issued on Thursday. The brokerage set a “neutral” rating and a $110.00 price target on the real estate investment trust’s stock. Bank of America‘s target price suggests a potential upside of 3.18% from the company’s current price.

CCI has been the subject of a number of other reports. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and lowered their target price for the company from $128.00 to $122.00 in a report on Friday, March 14th. Moffett Nathanson decreased their price objective on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Wolfe Research upgraded Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday, March 17th. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Finally, UBS Group upgraded Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a research note on Friday, March 14th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.00.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $106.61 on Thursday. The business has a 50-day moving average of $92.77 and a 200 day moving average of $101.21. Crown Castle has a 12 month low of $84.20 and a 12 month high of $120.92. The stock has a market capitalization of $46.33 billion, a price-to-earnings ratio of 37.81 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Institutional Investors Weigh In On Crown Castle

Several hedge funds and other institutional investors have recently made changes to their positions in the business. 111 Capital acquired a new stake in shares of Crown Castle during the 4th quarter worth about $455,000. Wealth Enhancement Advisory Services LLC increased its position in Crown Castle by 7.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 240,038 shares of the real estate investment trust’s stock worth $21,786,000 after buying an additional 16,041 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new position in Crown Castle during the fourth quarter worth approximately $12,637,000. Probity Advisors Inc. increased its position in Crown Castle by 13.9% during the fourth quarter. Probity Advisors Inc. now owns 4,558 shares of the real estate investment trust’s stock worth $414,000 after buying an additional 557 shares during the period. Finally, Siemens Fonds Invest GmbH increased its position in Crown Castle by 811.5% during the fourth quarter. Siemens Fonds Invest GmbH now owns 49,593 shares of the real estate investment trust’s stock worth $4,501,000 after buying an additional 44,152 shares during the period. Institutional investors and hedge funds 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.