Crown Castle (NYSE:CCI) Stock Rating Upgraded by Zacks Research

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

Other analysts also recently issued research reports about the stock. Raymond James Financial reduced their price objective on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating for the company in a research report on Friday, January 23rd. KeyCorp dropped their price target on Crown Castle from $115.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Wall Street Zen lowered Crown Castle from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Weiss Ratings raised Crown Castle from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday, February 24th. Finally, Royal Bank Of Canada lowered their target price on shares of Crown Castle from $112.00 to $110.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Crown Castle has an average rating of “Moderate Buy” and a consensus target price of $100.13.

Crown Castle Stock Down 1.2%

NYSE:CCI opened at $90.07 on Wednesday. Crown Castle has a 52 week low of $77.01 and a 52 week high of $115.76. The company has a market cap of $39.28 billion, a price-to-earnings ratio of 89.18, a price-to-earnings-growth ratio of 0.46 and a beta of 0.96. The company has a fifty day simple moving average of $87.29 and a two-hundred day simple moving average of $91.53.

Insiders Place Their Bets

In other Crown Castle news, VP Robert Sean Collins sold 3,000 shares of the business’s 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 sale, the vice president directly owned 5,800 shares in the company, valued at approximately $507,442. The trade was a 34.09% 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, EVP Edward B. Adams, Jr. sold 4,650 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $86.34, for a total transaction of $401,481.00. Following the completion of the transaction, the executive vice president owned 25,183 shares of the company’s stock, valued at $2,174,300.22. This represents a 15.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.10% of the company’s stock.

Institutional Trading of Crown Castle

A number of institutional investors have recently added to or reduced their stakes in CCI. Winnow Wealth LLC purchased a new position in Crown Castle in the second quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Crown Castle in the 2nd quarter worth approximately $27,000. NewSquare Capital LLC grew its holdings in shares of Crown Castle by 74.5% in the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 120 shares during the period. LRI Investments LLC purchased a new position in Crown Castle in the 3rd quarter valued at approximately $29,000. Finally, Wiser Advisor Group LLC acquired a new position in Crown Castle during the third quarter worth $29,000. Hedge funds and other institutional investors 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.