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

Crown Castle (NYSE:CCI) had its target price decreased by Scotiabank from $133.00 to $118.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would suggest a potential upside of 26.58% from the company’s previous close.

Several other research firms have also weighed in on CCI. BMO Capital Markets cut their target price on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a report on Thursday. Royal Bank of Canada lifted their target price on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a report on Wednesday, February 21st. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $119.14.

Crown Castle Stock Performance

NYSE CCI traded up $0.17 on Thursday, hitting $93.22. 612,549 shares of the company’s stock traded hands, compared to its average volume of 2,749,424. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. Crown Castle has a 1-year low of $84.72 and a 1-year high of $134.09. The firm’s 50-day moving average price is $105.41 and its two-hundred day moving average price is $105.15. The firm has a market capitalization 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 announced 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). The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a net margin of 21.47% and a return on equity of 21.95%. The business’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.91 earnings per share. As a group, analysts expect that Crown Castle will post 6.59 EPS for the current year.

Institutional Investors Weigh In On Crown Castle

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCI. Mirador Capital Partners LP acquired a new stake in Crown Castle during the 1st quarter worth $265,000. SteelPeak Wealth LLC boosted its stake in Crown Castle by 239.4% during the 1st quarter. SteelPeak Wealth LLC now owns 9,433 shares of the real estate investment trust’s stock worth $998,000 after purchasing an additional 6,654 shares during the last quarter. Financial Partners Group LLC acquired a new stake in Crown Castle during the 1st quarter worth $6,612,000. Fiduciary Alliance LLC boosted its stake in Crown Castle by 9.1% during the 1st quarter. Fiduciary Alliance LLC now owns 87,711 shares of the real estate investment trust’s stock worth $9,145,000 after purchasing an additional 7,283 shares during the last quarter. Finally, MCF Advisors LLC boosted its stake in Crown Castle by 45.3% during the 1st quarter. MCF Advisors LLC now owns 6,187 shares of the real estate investment trust’s stock worth $655,000 after purchasing an additional 1,928 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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.