Royal Bank Of Canada Lowers Crown Castle (NYSE:CCI) Price Target to $110.00

Crown Castle (NYSE:CCI) had its price target lowered by equities researchers at Royal Bank Of Canada from $112.00 to $110.00 in a research 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 objective points to a potential upside of 21.68% from the stock’s current price.

Several other research analysts also recently issued reports on CCI. Raymond James Financial dropped their target price on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a research note on Thursday, October 23rd. The Goldman Sachs Group upped their price objective on Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. KeyCorp dropped their price objective on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. Wolfe Research raised Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price for the company in a research report on Monday, September 22nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Crown Castle in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $108.39.

Crown Castle Stock Performance

Shares of Crown Castle stock traded up $1.73 during midday trading on Monday, hitting $90.40. The company had a trading volume of 3,057,861 shares, compared to its average volume of 2,821,356. Crown Castle has a 52-week low of $83.21 and a 52-week high of $115.76. The stock has a market capitalization of $39.37 billion, a P/E ratio of -8.50, a P/E/G ratio of 0.56 and a beta of 0.96. The company has a 50 day moving average of $89.00 and a 200 day moving average of $95.90.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping the consensus estimate of $1.04 by $0.08. The business 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%.The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Equities research analysts forecast that Crown Castle will post 6.67 EPS for the current year.

Insider Transactions at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of Crown Castle 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 directly owned 65,571 shares of the company’s stock, valued at $6,431,203.68. The trade was a 31.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Crown Castle

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