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

Crown Castle (NYSE:CCI) had its price objective decreased by equities research analysts at Barclays from $101.00 to $91.00 in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price objective would indicate a potential upside of 3.99% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Citigroup decreased their price objective on shares of Crown Castle from $110.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 5th. Wells Fargo & Company cut their target price on shares of Crown Castle from $105.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. HSBC lowered their price target on Crown Castle from $107.00 to $88.40 and set a “hold” rating on the stock in a report on Thursday, February 5th. JPMorgan Chase & Co. dropped their price target on Crown Castle from $110.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. Finally, Zacks Research cut Crown Castle from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $100.02.

Crown Castle Price Performance

CCI stock opened at $87.51 on Tuesday. The stock has a market capitalization of $38.11 billion, a P/E ratio of 86.64, a P/E/G ratio of 0.46 and a beta of 0.96. Crown Castle has a 1-year low of $77.01 and a 1-year high of $115.76. The business has a fifty day moving average price of $87.23 and a 200-day moving average price of $92.63.

Institutional Trading of Crown Castle

Several hedge funds have recently bought and sold shares of CCI. Empowered Funds LLC lifted its position in shares of Crown Castle by 7.5% during the 1st quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock valued at $1,714,000 after buying an additional 1,150 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Crown Castle by 1.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 35,596 shares of the real estate investment trust’s stock valued at $3,692,000 after purchasing an additional 565 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in Crown Castle by 10.1% during the second quarter. Mutual of America Capital Management LLC now owns 55,643 shares of the real estate investment trust’s stock valued at $5,716,000 after purchasing an additional 5,105 shares in the last quarter. Bogart Wealth LLC boosted its position in shares of Crown Castle by 55.5% in the second quarter. Bogart Wealth LLC now owns 339 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 121 shares during the period. Finally, Probity Advisors Inc. increased its stake in shares of Crown Castle by 11.0% in the second quarter. Probity Advisors Inc. now owns 6,418 shares of the real estate investment trust’s stock worth $659,000 after purchasing an additional 636 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

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.