CROWN CASTLE IN/SH SH (NYSE:CCI) had its price target increased by investment analysts at Wells Fargo & Co from $129.00 to $142.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Wells Fargo & Co‘s target price would suggest a potential upside of 11.46% from the company’s current price.
CCI has been the topic of several other reports. Morgan Stanley raised their price target on shares of CROWN CASTLE IN/SH SH from $120.00 to $129.00 and gave the stock an “overweight” rating in a research report on Monday, March 11th. UBS Group lowered shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating and set a $130.00 price target on the stock. in a research report on Thursday, April 11th. Zacks Investment Research lowered shares of CROWN CASTLE IN/SH SH from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Bank of America raised their price target on shares of CROWN CASTLE IN/SH SH from $119.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, Guggenheim lowered shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “neutral” rating in a research report on Friday. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. CROWN CASTLE IN/SH SH presently has an average rating of “Hold” and a consensus price target of $122.50.
NYSE CCI opened at $127.40 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $53.55 billion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 1.48 and a beta of 0.42. CROWN CASTLE IN/SH SH has a 52-week low of $98.85 and a 52-week high of $130.60.
In other CROWN CASTLE IN/SH SH news, SVP Michael Joseph Kavanagh sold 2,500 shares of the business’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $120.06, for a total value of $300,150.00. Following the transaction, the senior vice president now directly owns 38,471 shares in the company, valued at $4,618,828.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Edward C. Hutcheson, Jr. purchased 350 shares of CROWN CASTLE IN/SH SH stock in a transaction on Friday, February 8th. The stock was purchased at an average price of $117.95 per share, for a total transaction of $41,282.50. Following the completion of the transaction, the director now owns 59,187 shares of the company’s stock, valued at $6,981,106.65. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Capital Investment Advisory Services LLC acquired a new position in CROWN CASTLE IN/SH SH in the fourth quarter valued at about $26,000. Covington Capital Management bought a new position in shares of CROWN CASTLE IN/SH SH in the fourth quarter worth about $29,000. CX Institutional raised its stake in shares of CROWN CASTLE IN/SH SH by 160.7% in the first quarter. CX Institutional now owns 232 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 143 shares during the last quarter. Athena Capital Advisors LLC bought a new position in shares of CROWN CASTLE IN/SH SH in the fourth quarter worth about $33,000. Finally, Doyle Wealth Management bought a new position in shares of CROWN CASTLE IN/SH SH in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.
CROWN CASTLE IN/SH SH Company Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 65,000 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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