Crown Castle (NYSE:CCI) Price Target Increased to $109.00 by Analysts at Royal Bank of Canada

Crown Castle (NYSE:CCI - Get Free Report) had its target price increased by equities research analysts at Royal Bank of Canada from $104.00 to $109.00 in a research report issued on Monday, Benzinga reports. The firm presently has a "sector perform" rating on the real estate investment trust's stock. Royal Bank of Canada's target price points to a potential downside of 0.05% from the company's previous close.

A number of other analysts have also weighed in on CCI. BMO Capital Markets increased their target price on shares of Crown Castle from $105.00 to $108.00 and gave the stock a "market perform" rating in a report on Thursday, July 18th. Wells Fargo & Company increased their price objective on Crown Castle from $100.00 to $105.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. TD Cowen reduced their target price on Crown Castle from $127.00 to $123.00 and set a "buy" rating on the stock in a research note on Thursday, October 17th. Bank of America raised their price target on Crown Castle from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 13th. Finally, Barclays boosted their price objective on shares of Crown Castle from $112.00 to $116.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $116.80.

Crown Castle Trading Up 0.1 %

Crown Castle stock traded up $0.14 during mid-day trading on Monday, hitting $109.05. The company's stock had a trading volume of 1,727,171 shares, compared to its average volume of 2,633,596. The business has a 50 day moving average price of $114.05 and a 200-day moving average price of $105.48. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. Crown Castle has a 12 month low of $88.61 and a 12 month high of $120.92. The stock has a market cap of $47.39 billion, a price-to-earnings ratio of 39.00 and a beta of 0.85.

Crown Castle (NYSE:CCI - Get Free Report) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.03). The company had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company's revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.77 earnings per share. As a group, analysts forecast that Crown Castle will post 6.65 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. grew its stake in shares of Crown Castle by 4,097.8% in the second quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust's stock worth $246,617,000 after acquiring an additional 2,464,094 shares during the last quarter. M&G Plc purchased a new stake in Crown Castle during the 1st quarter valued at about $221,573,000. Bank of Montreal Can increased its stake in Crown Castle by 191.7% during the 2nd quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust's stock valued at $195,183,000 after purchasing an additional 1,335,644 shares in the last quarter. Cooke & Bieler LP raised its holdings in Crown Castle by 95.8% in the second quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust's stock worth $251,962,000 after buying an additional 1,261,536 shares during the last quarter. Finally, Capital International Investors lifted its stake in shares of Crown Castle by 68,262.1% in the first quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust's stock worth $131,239,000 after buying an additional 1,238,274 shares in the last quarter. 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.