Crown Castle (NYSE:CCI) Given New $110.00 Price Target at Royal Bank Of Canada

Crown Castle (NYSE:CCI) had its target price lowered by analysts at Royal Bank Of Canada from $112.00 to $110.00 in a report issued on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 21.68% from the company’s current price.

Other analysts have also recently issued reports about the company. Wells Fargo & Company cut their price target on Crown Castle from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. UBS Group reiterated a “buy” rating and issued a $127.00 price objective on shares of Crown Castle in a report on Wednesday, December 10th. New Street Research lowered Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research report on Monday, January 5th. The Goldman Sachs Group upped their price target on Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Finally, Citigroup cut their price objective on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Crown Castle currently has an average rating of “Moderate Buy” and a consensus target price of $108.39.

Crown Castle Price Performance

Shares of NYSE CCI traded up $1.73 during mid-day trading on Monday, hitting $90.40. The company had a trading volume of 3,057,860 shares, compared to its average volume of 2,821,354. The company has a market capitalization of $39.37 billion, a PE ratio of -8.50, a price-to-earnings-growth ratio of 0.56 and a beta of 0.96. The business’s 50-day simple moving average is $89.00 and its 200 day simple moving average is $95.90. Crown Castle has a 1-year low of $83.21 and a 1-year high of $115.76.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.08. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.Crown Castle’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, analysts expect that Crown Castle will post 6.67 EPS for the current year.

Insider Activity

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the transaction, the executive vice president owned 65,571 shares of the company’s stock, valued at $6,431,203.68. This trade represents a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crown Castle

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Frank Rimerman Advisors LLC grew its holdings in Crown Castle by 111.7% during the fourth quarter. Frank Rimerman Advisors LLC now owns 5,093 shares of the real estate investment trust’s stock worth $453,000 after acquiring an additional 2,687 shares during the period. McGlone Suttner Wealth Management Inc. increased its position in Crown Castle by 21.2% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 4,451 shares of the real estate investment trust’s stock worth $396,000 after purchasing an additional 778 shares in the last quarter. Woodward Diversified Capital LLC raised its holdings in Crown Castle by 40.0% in the 4th quarter. Woodward Diversified Capital LLC now owns 4,527 shares of the real estate investment trust’s stock valued at $402,000 after acquiring an additional 1,294 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its stake in shares of Crown Castle by 22.8% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 2,832 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 526 shares during the period. Finally, KMG Fiduciary Partners LLC boosted its holdings in shares of Crown Castle by 4.9% during the fourth quarter. KMG Fiduciary Partners LLC now owns 23,001 shares of the real estate investment trust’s stock worth $2,044,000 after purchasing an additional 1,082 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.