Crown Castle (NYSE:CCI) Price Target Raised to $109.00

Crown Castle (NYSE:CCI) had its price objective boosted by equities researchers at Royal Bank of Canada from $104.00 to $109.00 in a research report issued to clients and investors on Monday, 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 would suggest a potential upside of 2.24% from the company’s previous close.

Several other brokerages also recently commented on CCI. TD Cowen cut their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. BMO Capital Markets lifted their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. UBS Group upped their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company lifted their price target on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Crown Castle presently has an average rating of “Hold” and an average target price of $116.80.

Crown Castle Price Performance

Crown Castle stock opened at $106.61 on Monday. Crown Castle has a 12-month low of $88.61 and a 12-month high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43. The firm has a 50-day moving average price of $113.97 and a 200-day moving average price of $105.64. The firm has a market capitalization of $46.33 billion, a PE ratio of 37.81 and a beta of 0.85.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 20.98% and a net margin of 18.59%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $1.77 EPS. As a group, equities research analysts forecast that Crown Castle will post 6.65 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CCI. Hexagon Capital Partners LLC raised its stake in Crown Castle by 24.3% in the first quarter. Hexagon Capital Partners LLC now owns 1,398 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 273 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Crown Castle by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock valued at $98,570,000 after purchasing an additional 8,136 shares during the last quarter. Albion Financial Group UT boosted its stake in Crown Castle by 2.4% in the 1st quarter. Albion Financial Group UT now owns 44,420 shares of the real estate investment trust’s stock worth $4,701,000 after purchasing an additional 1,034 shares in the last quarter. State of Alaska Department of Revenue grew its position in Crown Castle by 0.7% during the 1st quarter. State of Alaska Department of Revenue now owns 254,564 shares of the real estate investment trust’s stock worth $26,939,000 after purchasing an additional 1,655 shares during the last quarter. Finally, IVC Wealth Advisors LLC acquired a new position in Crown Castle during the 1st quarter valued at approximately $432,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Company Profile

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.