Crown Castle (NYSE:CCI) PT Raised to $109.00

Crown Castle (NYSE:CCI) had its price target raised by analysts at Royal Bank of Canada from $104.00 to $109.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s target price suggests a potential downside of 1.13% from the stock’s previous close.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. raised their target price on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Barclays raised their price objective on shares of Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Citigroup set a $128.00 price objective on shares of Crown Castle in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group increased their price objective on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $116.80.

Crown Castle Price Performance

Shares of Crown Castle stock traded up $1.34 during midday trading on Monday, hitting $110.25. 158,108 shares of the company were exchanged, compared to its average volume of 2,626,052. The firm has a 50 day simple moving average of $114.05 and a 200-day simple moving average of $105.48. Crown Castle has a 52 week low of $88.61 and a 52 week high of $120.92. The firm has a market cap of $47.91 billion, a P/E ratio of 39.10 and a beta of 0.85. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. Research analysts forecast that Crown Castle will post 6.65 earnings per share for the current year.

Institutional Trading of Crown Castle

Several hedge funds have recently bought and sold shares of CCI. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle during the first quarter worth $27,000. Asset Dedication LLC boosted its holdings in Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 167 shares during the last quarter. Beacon Capital Management LLC increased its stake in Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 177 shares during the last quarter. New Millennium Group LLC bought a new position in shares of Crown Castle in the 2nd quarter valued at about $34,000. Finally, ORG Partners LLC acquired a new stake in shares of Crown Castle in the second quarter valued at about $34,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.