Crown Castle (NYSE:CCI) PT Raised to $116.00 at Barclays

Crown Castle (NYSE:CCI) had its target price hoisted by Barclays from $112.00 to $116.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target points to a potential upside of 4.66% from the stock’s previous close.

A number of other brokerages have also recently issued reports on CCI. Deutsche Bank Aktiengesellschaft increased their target price on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their target price on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada raised their price target on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group boosted their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, TD Cowen raised their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Crown Castle presently has an average rating of “Hold” and an average target price of $115.67.

Crown Castle Stock Up 0.8 %

Shares of NYSE:CCI opened at $110.83 on Thursday. The company has a market cap of $48.16 billion, a price-to-earnings ratio of 34.63 and a beta of 0.85. Crown Castle has a fifty-two week low of $84.72 and a fifty-two week high of $120.92. The firm’s 50-day simple moving average is $113.92 and its 200-day simple moving average is $104.75. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The firm’s quarterly revenue was down 12.9% on a year-over-year basis. As a group, equities research analysts predict that Crown Castle will post 6.64 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the sale, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Crown Castle

Several hedge funds and other institutional investors have recently modified their holdings of CCI. Fisher Asset Management LLC increased its stake in Crown Castle by 16.2% during the fourth quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock valued at $523,773,000 after purchasing an additional 632,398 shares during the last quarter. BOKF NA raised its stake in Crown Castle by 25.6% during the first quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock worth $417,000 after acquiring an additional 815 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Crown Castle by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock worth $98,570,000 after acquiring an additional 8,136 shares during the period. Global Assets Advisory LLC acquired a new position in Crown Castle in the first quarter valued at approximately $4,425,000. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Crown Castle by 30.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock worth $3,789,000 after purchasing an additional 8,346 shares during the period. Institutional investors own 90.77% of the company’s stock.

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.