Wolfe Research Issues Pessimistic Forecast for Crown Castle (NYSE:CCI) Stock Price

Crown Castle (NYSE:CCI) had its target price reduced by investment analysts at Wolfe Research from $114.00 to $94.00 in a research note issued on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Wolfe Research’s price objective suggests a potential upside of 10.06% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. HSBC lowered their target price on Crown Castle from $107.00 to $88.40 and set a “hold” rating on the stock in a research note on Thursday, February 5th. Barclays reduced their price target on Crown Castle from $101.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 17th. New Street Research cut Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research report on Monday, January 5th. Finally, JPMorgan Chase & Co. cut their price objective on Crown Castle from $110.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.28.

Crown Castle Stock Performance

Shares of CCI opened at $85.41 on Monday. The stock has a market capitalization of $37.24 billion, a PE ratio of 84.88, a PEG ratio of 0.43 and a beta of 0.94. The company has a 50 day moving average price of $85.70 and a 200-day moving average price of $89.31. Crown Castle has a fifty-two week low of $75.96 and a fifty-two week high of $115.76.

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 shares were sold at an average price of $86.34, for a total transaction of $401,481.00. Following the sale, the executive vice president directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert Sean Collins sold 3,000 shares of Crown Castle stock in a transaction on Friday, February 27th. The shares were sold at an average price of $87.49, for a total transaction of $262,470.00. Following the completion of the transaction, the vice president owned 5,800 shares in the company, valued at approximately $507,442. This trade represents 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 currently owned by company insiders.

Institutional Investors Weigh In On Crown Castle

A number of large investors have recently added to or reduced their stakes in CCI. Purpose Unlimited Inc. bought a new stake in shares of Crown Castle during the 4th quarter valued at about $183,000. World Investment Advisors boosted its stake in Crown Castle by 257.7% in the fourth quarter. World Investment Advisors now owns 7,729 shares of the real estate investment trust’s stock valued at $687,000 after acquiring an additional 5,568 shares during the period. Hsbc Holdings PLC boosted its stake in Crown Castle by 11.6% in the fourth quarter. Hsbc Holdings PLC now owns 1,585,857 shares of the real estate investment trust’s stock valued at $140,950,000 after acquiring an additional 164,986 shares during the period. Bayban bought a new position in shares of Crown Castle during the fourth quarter valued at approximately $44,000. Finally, SHP Wealth Management acquired a new stake in shares of Crown Castle during the 4th quarter worth approximately $210,000. 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.