Crown Castle (NYSE:CCI) PT Lowered to $105.00

Crown Castle (NYSE:CCI) had its price objective reduced by BMO Capital Markets from $110.00 to $105.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the real estate investment trust’s stock. BMO Capital Markets’ target price would suggest a potential upside of 10.22% from the company’s previous close.

Separately, Royal Bank of Canada increased their price objective on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 21st. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $117.73.

Crown Castle Stock Performance

NYSE CCI opened at $95.26 on Thursday. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40. The company has a market cap of $41.39 billion, a P/E ratio of 29.77, a P/E/G ratio of 2.51 and a beta of 0.73. The stock has a 50-day moving average of $104.88 and a two-hundred day moving average of $105.10. Crown Castle has a 1-year low of $84.72 and a 1-year high of $131.43.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.91 EPS. As a group, analysts anticipate that Crown Castle will post 6.59 EPS for the current year.

Institutional Trading of Crown Castle

Several institutional investors have recently modified their holdings of CCI. Maryland State Retirement & Pension System raised its stake in Crown Castle by 1.4% during the 1st quarter. Maryland State Retirement & Pension System now owns 404,214 shares of the real estate investment trust’s stock worth $42,778,000 after acquiring an additional 5,698 shares in the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of Crown Castle by 3.5% during the first quarter. Legacy Wealth Asset Management LLC now owns 7,568 shares of the real estate investment trust’s stock worth $801,000 after purchasing an additional 258 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Crown Castle by 13.0% during the first quarter. First Trust Direct Indexing L.P. now owns 14,527 shares of the real estate investment trust’s stock worth $1,537,000 after purchasing an additional 1,671 shares in the last quarter. Kovack Advisors Inc. lifted its holdings in shares of Crown Castle by 49.6% in the 1st quarter. Kovack Advisors Inc. now owns 13,382 shares of the real estate investment trust’s stock valued at $1,416,000 after purchasing an additional 4,437 shares during the last quarter. Finally, Abundance Wealth Counselors boosted its position in shares of Crown Castle by 26.6% in the 1st quarter. Abundance Wealth Counselors now owns 7,719 shares of the real estate investment trust’s stock valued at $817,000 after purchasing an additional 1,623 shares during the period. Hedge funds and other 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.