Crown Castle (NYSE:CCI) Given New $110.00 Price Target at Bank of America

Crown Castle (NYSE:CCI) had its target price upped by stock analysts at Bank of America from $105.00 to $110.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Bank of America‘s price target would suggest a potential upside of 4.15% from the stock’s current price.

Other research analysts have also issued reports about the stock. Scotiabank decreased their price target on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Barclays increased their price target on shares of Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 23rd. Raymond James restated an “outperform” rating and set a $126.00 price objective (up from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. Royal Bank of Canada reduced their price objective on shares of Crown Castle from $109.00 to $100.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Twelve research 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 has an average rating of “Hold” and an average target price of $114.69.

Crown Castle Trading Up 1.7 %

NYSE:CCI opened at $105.62 on Thursday. The company has a 50-day moving average price of $99.41 and a 200-day moving average price of $103.26. Crown Castle has a 12 month low of $84.72 and a 12 month high of $119.50. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.73. The stock has a market cap of $45.89 billion, a price-to-earnings ratio of 33.01, a P/E/G ratio of 2.76 and a beta of 0.83.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the company posted $2.05 EPS. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. Equities analysts predict that Crown Castle will post 6.62 EPS for the current year.

Hedge Funds Weigh In On Crown Castle

Several large investors have recently added to or reduced their stakes in the company. Fiduciary Financial Group LLC purchased a new position in Crown Castle during the second quarter valued at approximately $313,000. Comprehensive Financial Consultants Institutional Inc. lifted its holdings in Crown Castle by 23.6% during the second quarter. Comprehensive Financial Consultants Institutional Inc. now owns 9,447 shares of the real estate investment trust’s stock valued at $923,000 after purchasing an additional 1,802 shares in the last quarter. Mcdonald Partners LLC lifted its holdings in Crown Castle by 6.0% during the second quarter. Mcdonald Partners LLC now owns 4,593 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 262 shares in the last quarter. ARS Investment Partners LLC lifted its holdings in Crown Castle by 142.7% during the second quarter. ARS Investment Partners LLC now owns 40,309 shares of the real estate investment trust’s stock valued at $3,938,000 after purchasing an additional 23,703 shares in the last quarter. Finally, Vanderbilt University raised its position in shares of Crown Castle by 9.7% during the second quarter. Vanderbilt University now owns 29,983 shares of the real estate investment trust’s stock valued at $2,929,000 after buying an additional 2,648 shares during 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.