CROWN CASTLE IN/SH SH (NYSE:CCI) was downgraded by analysts at New Street Research from a “neutral” rating to a “sell” rating in a report released on Thursday, The Fly reports. They presently have a $113.00 target price on the real estate investment trust’s stock. New Street Research’s target price suggests a potential downside of 14.75% from the company’s previous close.
Other equities research analysts have also issued research reports about the company. Morgan Stanley boosted their target price on CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Wells Fargo & Co upped their target price on CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. UBS Group downgraded CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $130.00 target price on the stock. in a report on Thursday, April 11th. Guggenheim downgraded CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating in a report on Friday, April 12th. They noted that the move was a valuation call. Finally, Deutsche Bank cut CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating and set a $121.00 price target on the stock. in a research report on Monday, March 18th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $122.46.
Shares of NYSE:CCI traded down $2.54 during trading on Thursday, hitting $132.55. 1,886,276 shares of the company were exchanged, compared to its average volume of 1,869,168. The company has a market capitalization of $56.16 billion, a PE ratio of 24.19, a P/E/G ratio of 1.57 and a beta of 0.34. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.91. CROWN CASTLE IN/SH SH has a 12-month low of $99.99 and a 12-month high of $137.31.
CROWN CASTLE IN/SH SH (NYSE:CCI) last released its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.93). The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.39 billion. CROWN CASTLE IN/SH SH had a net margin of 13.82% and a return on equity of 6.31%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. As a group, equities research analysts predict that CROWN CASTLE IN/SH SH will post 5.59 EPS for the current fiscal year.
In other news, VP Robert Sean Collins sold 1,200 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $125.19, for a total transaction of $150,228.00. Following the transaction, the vice president now directly owns 1,616 shares of the company’s stock, valued at approximately $202,307.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director J Landis Martin purchased 18,350 shares of the stock in a transaction dated Wednesday, April 24th. The shares were purchased at an average cost of $123.13 per share, for a total transaction of $2,259,435.50. Following the completion of the acquisition, the director now directly owns 120,717 shares in the company, valued at $14,863,884.21. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC purchased a new position in shares of CROWN CASTLE IN/SH SH during the fourth quarter worth approximately $26,000. Altshuler Shaham Ltd acquired a new position in CROWN CASTLE IN/SH SH during the first quarter valued at $26,000. Lenox Wealth Management Inc. lifted its position in CROWN CASTLE IN/SH SH by 2,222.2% during the first quarter. Lenox Wealth Management Inc. now owns 209 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 200 shares during the period. Covington Capital Management acquired a new position in CROWN CASTLE IN/SH SH during the fourth quarter valued at $29,000. Finally, CX Institutional lifted its position in CROWN CASTLE IN/SH SH by 160.7% during the first quarter. CX Institutional now owns 232 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 143 shares during the period. 92.19% of the stock is currently owned by hedge funds and other institutional investors.
CROWN CASTLE IN/SH SH Company Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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.
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