Crown Castle International (NYSE:CCI) had its price objective upped by research analysts at KeyCorp from $193.00 to $207.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. KeyCorp’s price target would suggest a potential upside of 12.37% from the company’s current price.
A number of other equities research analysts also recently weighed in on CCI. Wolfe Research initiated coverage on shares of Crown Castle International in a research report on Wednesday, March 24th. They set a “peer perform” rating and a $165.00 price objective for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $195.00 price objective (up from $180.00) on shares of Crown Castle International in a research note on Friday. Jefferies Financial Group began coverage on shares of Crown Castle International in a report on Monday. They issued a “buy” rating and a $205.00 price objective for the company. Smith Barney Citigroup raised shares of Crown Castle International from a “neutral” rating to a “buy” rating in a research report on Thursday, January 14th. Finally, Credit Suisse Group decreased their price objective on shares of Crown Castle International from $158.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, January 29th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $182.17.
Shares of NYSE CCI opened at $184.21 on Friday. The stock has a market cap of $79.61 billion, a P/E ratio of 115.13, a PEG ratio of 1.18 and a beta of 0.30. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.02. Crown Castle International has a 12-month low of $146.15 and a 12-month high of $185.97. The business’s fifty day simple moving average is $168.36 and its 200-day simple moving average is $162.76.
In related news, Director Kevin A. Stephens acquired 2,000 shares of the company’s stock in a transaction dated Monday, February 1st. The stock was purchased at an average price of $164.15 per share, with a total value of $328,300.00. Following the completion of the purchase, the director now owns 4,086 shares in the company, valued at approximately $670,716.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Daniel K. Schlanger sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 9th. The shares were sold at an average price of $150.73, for a total value of $753,650.00. Following the sale, the chief financial officer now directly owns 80,811 shares of the company’s stock, valued at approximately $12,180,642.03. The disclosure for this sale can be found here. In the last three months, insiders have bought 7,780 shares of company stock valued at $1,253,828 and have sold 14,796 shares valued at $2,270,261. 0.47% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in CCI. Magellan Asset Management Ltd raised its holdings in Crown Castle International by 5.8% in the fourth quarter. Magellan Asset Management Ltd now owns 14,444,891 shares of the real estate investment trust’s stock worth $2,299,482,000 after purchasing an additional 792,000 shares in the last quarter. Morgan Stanley increased its holdings in shares of Crown Castle International by 13.7% during the fourth quarter. Morgan Stanley now owns 8,208,821 shares of the real estate investment trust’s stock valued at $1,306,761,000 after acquiring an additional 987,581 shares in the last quarter. Norges Bank bought a new position in shares of Crown Castle International during the fourth quarter valued at $669,019,000. Charles Schwab Investment Management Inc. boosted its position in shares of Crown Castle International by 8.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,541,193 shares of the real estate investment trust’s stock valued at $563,723,000 after buying an additional 263,314 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Crown Castle International by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 3,085,170 shares of the real estate investment trust’s stock worth $491,129,000 after buying an additional 17,637 shares in the last quarter. Institutional investors own 90.07% of the company’s stock.
Crown Castle International Company Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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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