Barclays Cuts Crown Castle (NYSE:CCI) Price Target to $91.00

Crown Castle (NYSE:CCI) had its target price reduced by analysts at Barclays from $101.00 to $91.00 in a note issued to investors on Tuesday,MarketScreener reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s target price would indicate a potential upside of 0.43% from the company’s current price.

CCI has been the subject of a number of other reports. Raymond James Financial lowered their price objective on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating for the company in a research report on Friday, January 23rd. KeyCorp decreased their target price on shares of Crown Castle from $115.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Scotiabank dropped their price target on Crown Castle from $96.00 to $94.00 and set a “sector perform” rating for the company in a research note on Thursday, February 5th. New Street Research downgraded Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a report on Monday, January 5th. Finally, HSBC lowered their target price on Crown Castle from $107.00 to $88.40 and set a “hold” rating for the company in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Crown Castle has an average rating of “Hold” and an average target price of $100.02.

Crown Castle Stock Up 0.3%

NYSE:CCI opened at $90.61 on Tuesday. The firm has a market capitalization of $39.46 billion, a PE ratio of 89.71, a price-to-earnings-growth ratio of 0.46 and a beta of 0.96. Crown Castle has a twelve month low of $77.01 and a twelve month high of $115.76. The stock’s 50-day simple moving average is $87.26 and its 200 day simple moving average is $92.77.

Hedge Funds Weigh In On Crown Castle

A number of hedge funds and other institutional investors have recently made changes to their positions in CCI. Winnow Wealth LLC bought a new position in Crown Castle during the 2nd quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Crown Castle during the second quarter worth $27,000. NewSquare Capital LLC increased its position in shares of Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 120 shares during the period. Wiser Advisor Group LLC bought a new position in Crown Castle during the third quarter worth $29,000. Finally, Creative Financial Designs Inc. ADV lifted its holdings in Crown Castle by 47.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 98 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.