Crown Castle (NYSE:CCI) Price Target Lowered to $87.00 at Truist Financial

Crown Castle (NYSE:CCI) had its target price cut by Truist Financial from $95.00 to $87.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective would suggest a potential upside of 17.32% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. TD Cowen dropped their price objective on shares of Crown Castle from $94.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Citizens Jmp decreased their target price on shares of Crown Castle from $125.00 to $120.00 and set a “market outperform” rating on the stock in a research report on Friday. Jefferies Financial Group upped their target price on shares of Crown Castle from $84.00 to $89.00 and gave the company a “hold” rating in a research note on Tuesday, April 14th. Wolfe Research cut shares of Crown Castle from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 20th. Finally, JPMorgan Chase & Co. decreased their price objective on Crown Castle from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.76.

Crown Castle Trading Down 1.0%

Shares of NYSE CCI opened at $74.16 on Tuesday. The firm has a market capitalization of $32.37 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 0.40 and a beta of 0.95. Crown Castle has a one year low of $73.52 and a one year high of $112.75. The business has a fifty day simple moving average of $84.07 and a 200 day simple moving average of $85.63.

Institutional Investors Weigh In On Crown Castle

A number of hedge funds have recently made changes to their positions in CCI. Wiser Advisor Group LLC bought a new position in Crown Castle during the 3rd quarter valued at about $29,000. Triumph Capital Management bought a new stake in Crown Castle during the third quarter worth about $31,000. Hilton Head Capital Partners LLC grew its stake in Crown Castle by 55.6% during the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 134 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Crown Castle by 128.7% during the fourth quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 215 shares in the last quarter. Finally, MV Capital Management Inc. acquired a new stake in shares of Crown Castle during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Company Profile

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.