Crown Castle (NYSE:CCI) Given New $107.00 Price Target at Royal Bank of Canada

Crown Castle (NYSE:CCI - Get Free Report) had its target price reduced by Royal Bank of Canada from $109.00 to $107.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank of Canada's price objective points to a potential upside of 5.15% from the company's previous close.

A number of other brokerages have also commented on CCI. Wolfe Research raised Crown Castle from an "underperform" rating to a "peer perform" rating in a research report on Monday, March 17th. Jefferies Financial Group downgraded shares of Crown Castle from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Scotiabank cut their price target on Crown Castle from $102.00 to $99.00 and set a "sector perform" rating for the company in a research note on Friday, March 14th. Citigroup reaffirmed a "buy" rating on shares of Crown Castle in a research report on Tuesday, March 25th. Finally, JMP Securities initiated coverage on shares of Crown Castle in a report on Monday, January 27th. They set an "outperform" rating and a $115.00 price objective on the stock. One analyst has rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Crown Castle presently has an average rating of "Hold" and an average target price of $109.88.

Crown Castle Trading Up 1.2 %

Shares of NYSE:CCI traded up $1.25 during mid-day trading on Friday, hitting $101.76. The company had a trading volume of 1,135,752 shares, compared to its average volume of 2,914,115. The company has a market capitalization of $44.31 billion, a PE ratio of 36.09 and a beta of 0.93. Crown Castle has a one year low of $84.20 and a one year high of $120.92. The firm has a fifty day moving average price of $96.97 and a 200 day moving average price of $99.00. 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 Investors Weigh In On Crown Castle

A number of large investors have recently made changes to their positions in the business. CHICAGO TRUST Co NA boosted its stake in shares of Crown Castle by 3.0% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock valued at $368,000 after purchasing an additional 104 shares in the last quarter. Accurate Wealth Management LLC grew its holdings in shares of Crown Castle by 5.4% during the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust's stock worth $205,000 after acquiring an additional 124 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Crown Castle by 12.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust's stock worth $103,000 after acquiring an additional 126 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Crown Castle by 5.9% during the fourth quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust's stock valued at $216,000 after purchasing an additional 133 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in Crown Castle by 62.1% in the first quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 133 shares during the period. 90.77% of the stock is currently owned by institutional investors.

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.