Crown Castle (NYSE:CCI) Given Equal Weight Rating at Wells Fargo & Company

Crown Castle (NYSE:CCI)‘s stock had its “equal weight” rating restated by equities research analysts at Wells Fargo & Company in a research note issued to investors on Monday,Benzinga reports. They currently have a $85.00 price target on the real estate investment trust’s stock, down from their previous price target of $90.00. Wells Fargo & Company‘s price target would suggest a potential upside of 3.07% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Citigroup dropped their price target on Crown Castle from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. KeyCorp lowered their price objective on Crown Castle from $115.00 to $98.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. UBS Group dropped their target price on Crown Castle from $116.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. BMO Capital Markets cut their target price on Crown Castle from $97.00 to $91.00 and set an “outperform” rating on the stock in a research note on Thursday, February 5th. Finally, Scotiabank reduced their price target on shares of Crown Castle from $96.00 to $94.00 and set a “sector perform” rating for the company in a report on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.86.

Crown Castle Stock Down 3.1%

CCI opened at $82.47 on Monday. The company’s 50-day moving average price is $87.21 and its 200 day moving average price is $90.35. Crown Castle has a fifty-two week low of $77.01 and a fifty-two week high of $115.76. The firm has a market cap of $35.96 billion, a price-to-earnings ratio of 81.65, a price-to-earnings-growth ratio of 0.42 and a beta of 0.96.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 4,650 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total transaction of $401,481.00. Following the completion of the transaction, the executive vice president owned 25,183 shares in the company, valued at approximately $2,174,300.22. The trade was a 15.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Robert Sean Collins sold 3,000 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $87.49, for a total value of $262,470.00. Following the completion of the transaction, the vice president directly owned 5,800 shares of the company’s stock, valued at approximately $507,442. The trade was a 34.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is owned by insiders.

Institutional Trading of Crown Castle

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Crown Castle by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 69,769,393 shares of the real estate investment trust’s stock valued at $6,200,406,000 after acquiring an additional 386,733 shares in the last quarter. Cohen & Steers Inc. raised its holdings in Crown Castle by 11.0% during the fourth quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust’s stock worth $3,536,214,000 after purchasing an additional 3,953,685 shares in the last quarter. State Street Corp lifted its position in Crown Castle by 2.4% in the fourth quarter. State Street Corp now owns 22,239,559 shares of the real estate investment trust’s stock worth $1,976,430,000 after purchasing an additional 511,018 shares during the period. Wellington Management Group LLP boosted its stake in Crown Castle by 2.8% during the 4th quarter. Wellington Management Group LLP now owns 13,986,852 shares of the real estate investment trust’s stock valued at $1,243,012,000 after purchasing an additional 380,419 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Crown Castle by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 13,027,749 shares of the real estate investment trust’s stock valued at $1,156,972,000 after purchasing an additional 184,533 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

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.