Scotiabank Cuts Crown Castle (NYSE:CCI) Price Target to $99.00

Crown Castle (NYSE:CCI) had its target price decreased by research analysts at Scotiabank from $102.00 to $99.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would suggest a potential downside of 3.69% from the company’s previous close.

A number of other research firms have also weighed in on CCI. Moffett Nathanson lowered their target price on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Wells Fargo & Company dropped their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, January 23rd. Raymond James raised shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $128.00 to $122.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, Citigroup decreased their price objective on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Crown Castle currently has an average rating of “Moderate Buy” and a consensus target price of $109.00.

Crown Castle Price Performance

NYSE CCI traded up $9.26 on Friday, reaching $102.79. 3,620,043 shares of the company’s stock traded hands, compared to its average volume of 2,552,865. The stock has a market cap of $44.67 billion, a PE ratio of 36.46 and a beta of 0.89. Crown Castle has a 12 month low of $84.20 and a 12 month high of $120.92. The stock has a 50-day simple moving average of $90.74 and a 200 day simple moving average of $101.55. 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 Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Lansforsakringar Fondforvaltning AB publ bought a new position in Crown Castle during the fourth quarter valued at approximately $12,637,000. Probity Advisors Inc. lifted its stake in shares of Crown Castle by 13.9% in the 4th quarter. Probity Advisors Inc. now owns 4,558 shares of the real estate investment trust’s stock worth $414,000 after purchasing an additional 557 shares during the period. Siemens Fonds Invest GmbH boosted its holdings in shares of Crown Castle by 811.5% in 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 last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Crown Castle during the fourth quarter valued at approximately $45,348,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Crown Castle during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

About Crown Castle

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.