Crown Castle (NYSE:CCI) Upgraded at Zacks Research

Crown Castle (NYSE:CCI) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Royal Bank Of Canada lowered their price objective on Crown Castle from $112.00 to $110.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. Scotiabank decreased their target price on shares of Crown Castle from $96.00 to $94.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 5th. Sanford C. Bernstein began coverage on shares of Crown Castle in a research note on Thursday. They set an “outperform” rating and a $102.00 price objective for the company. New Street Research downgraded Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a report on Monday, January 5th. Finally, UBS Group reduced their target price on Crown Castle from $116.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.13.

Crown Castle Price Performance

NYSE CCI opened at $90.07 on Wednesday. The stock has a market capitalization of $39.28 billion, a price-to-earnings ratio of 89.18, a PEG ratio of 0.46 and a beta of 0.96. The business’s fifty day moving average price is $87.29 and its 200-day moving average price is $91.53. Crown Castle has a 1-year low of $77.01 and a 1-year high of $115.76.

Insider Activity

In other Crown Castle news, VP Robert Sean Collins sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president owned 5,800 shares in the company, valued at approximately $507,442. This represents a 34.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $86.34, for a total value of $401,481.00. Following the completion of the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Crown Castle

A number of institutional investors have recently bought and sold shares of the business. Empowered Funds LLC boosted its holdings in Crown Castle by 7.5% in the first quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock valued at $1,714,000 after purchasing an additional 1,150 shares during the last quarter. NewSquare Capital LLC grew its position in shares of Crown Castle by 74.5% in the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares during the period. Resona Asset Management Co. Ltd. increased its stake in Crown Castle by 2.2% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 74,006 shares of the real estate investment trust’s stock worth $7,554,000 after buying an additional 1,558 shares in the last quarter. Savant Capital LLC raised its stake in Crown Castle by 14.2% in the 2nd quarter. Savant Capital LLC now owns 5,429 shares of the real estate investment trust’s stock valued at $558,000 after purchasing an additional 675 shares during the last quarter. Finally, Sustainable Insight Capital Management LLC acquired a new stake in shares of Crown Castle in the second quarter valued at about $234,000. 90.77% of the stock is owned by hedge funds and other 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.