Crown Castle (NYSE:CCI) PT Lowered to $118.00 at Scotiabank

Crown Castle (NYSE:CCI) had its price objective dropped by investment analysts at Scotiabank from $133.00 to $118.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective suggests a potential upside of 26.58% from the stock’s current price.

CCI has been the topic of several other research reports. BMO Capital Markets dropped their target price on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research note on Thursday. Royal Bank of Canada upped their target price on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 21st. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $119.14.

Crown Castle Stock Up 0.2 %

NYSE:CCI traded up $0.17 during mid-day trading on Thursday, hitting $93.22. 612,549 shares of the company’s stock were exchanged, compared to its average volume of 2,749,424. Crown Castle has a one year low of $84.72 and a one year high of $134.09. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.40 and a quick ratio of 0.40. The business has a fifty day moving average price of $105.41 and a 200 day moving average price of $105.15. The company has a market cap of $40.51 billion, a PE ratio of 27.21, a P/E/G ratio of 2.50 and a beta of 0.73.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a return on equity of 21.95% and a net margin of 21.47%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm earned $1.91 EPS. The company’s revenue was down 7.4% on a year-over-year basis. Equities analysts predict that Crown Castle will post 6.59 EPS for the current year.

Institutional Trading of Crown Castle

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCI. Norges Bank purchased a new stake in Crown Castle during the fourth quarter valued at approximately $581,503,000. Moneta Group Investment Advisors LLC increased its stake in shares of Crown Castle by 90,084.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,487,430 shares of the real estate investment trust’s stock worth $473,035,000 after purchasing an additional 3,483,563 shares in the last quarter. Barclays PLC increased its stake in shares of Crown Castle by 78.7% in the fourth quarter. Barclays PLC now owns 5,463,901 shares of the real estate investment trust’s stock worth $629,386,000 after purchasing an additional 2,405,768 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of 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 purchasing an additional 2,121,603 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Crown Castle by 21.9% in the third quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock worth $932,682,000 after purchasing an additional 1,818,910 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.