Crown Castle (NYSE:CCI) Upgraded by Barclays to Overweight Rating

Crown Castle (NYSE:CCIGet Free Report) was upgraded by analysts at Barclays from an “equal weight” rating to an “overweight” rating in a report released on Monday, Marketbeat reports. The firm presently has a $104.00 price target on the real estate investment trust’s stock, down from their previous price target of $117.00. Barclays‘s price target points to a potential upside of 20.02% from the company’s previous close.

Other analysts have also issued research reports about the company. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Wells Fargo & Company cut Crown Castle from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $105.00 to $100.00 in a report on Tuesday, December 10th. UBS Group raised their price target on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. The Goldman Sachs Group increased their target price on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Royal Bank of Canada raised their target price on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $113.00.

Read Our Latest Research Report on CCI

Crown Castle Stock Up 1.1 %

NYSE:CCI opened at $86.65 on Monday. The company has a market cap of $37.66 billion, a price-to-earnings ratio of 30.73 and a beta of 0.87. Crown Castle has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a fifty day simple moving average of $97.57 and a 200-day simple moving average of $105.81.

Crown Castle (NYSE:CCIGet Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.77 EPS. Analysts anticipate that Crown Castle will post 6.66 EPS for the current year.

Institutional Investors Weigh In On Crown Castle

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after acquiring an additional 747,390 shares during the last quarter. Wellington Management Group LLP boosted its stake in Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after purchasing an additional 3,371,186 shares in the last quarter. Geode Capital Management LLC grew its position in Crown Castle by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock worth $1,434,229,000 after purchasing an additional 151,990 shares during the last quarter. Legal & General Group Plc increased its stake in Crown Castle by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after purchasing an additional 67,072 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Crown Castle by 7.2% in the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after buying an additional 348,296 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

About Crown Castle

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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.

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Analyst Recommendations for Crown Castle (NYSE:CCI)

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