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

Crown Castle (NYSE:CCI) had its price objective lowered by analysts at Deutsche Bank Aktiengesellschaft from $110.00 to $109.00 in a report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 14.17% from the company’s previous close.

A number of other research firms have also weighed in on CCI. BMO Capital Markets reduced their target price on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research note on Thursday, April 18th. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Jefferies Financial Group reduced their target price on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Bank of America cut their price target on Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Finally, Wells Fargo & Company cut their price target on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and a consensus price target of $113.29.

Crown Castle Stock Up 0.4 %

Shares of CCI opened at $95.47 on Monday. The company has a market cap of $41.48 billion, a PE ratio of 29.83, a P/E/G ratio of 2.53 and a beta of 0.73. The business has a fifty day moving average of $104.43 and a 200 day moving average of $105.40. Crown Castle has a 52-week low of $84.72 and a 52-week high of $128.27. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 3.73.

Crown Castle (NYSE:CCI) last released its earnings results 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). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the business earned $1.91 EPS. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, sell-side analysts expect that Crown Castle will post 6.59 EPS for the current year.

Hedge Funds Weigh In On Crown Castle

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its holdings in Crown Castle by 8.9% in the third quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock worth $1,203,648,000 after acquiring an additional 1,064,382 shares in the last quarter. FMR LLC boosted its holdings in Crown Castle by 14.3% in the third quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock worth $1,098,526,000 after acquiring an additional 1,496,330 shares in the last quarter. Cohen & Steers Inc. boosted its holdings in Crown Castle by 7.9% in the fourth quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock worth $1,310,559,000 after acquiring an additional 834,198 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Crown Castle by 11.1% in the fourth quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock worth $1,297,147,000 after acquiring an additional 1,126,394 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Crown Castle by 42.8% in the third quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock worth $651,910,000 after acquiring an additional 2,121,603 shares in the last quarter. 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.