Wells Fargo & Company Raises Crown Castle International Corporation (CCI) Price Target to $116.00

Crown Castle International Corporation (NYSE:CCI) had its price objective boosted by research analysts at Wells Fargo & Company from $112.50 to $116.00 in a research note issued to investors on Monday. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Wells Fargo & Company’s price target would suggest a potential upside of 10.49% from the company’s current price.

Other equities analysts have also issued reports about the company. Bank of America Corporation increased their price objective on Crown Castle International Corporation from $107.00 to $114.00 and gave the company a “buy” rating in a report on Friday, September 8th. Royal Bank Of Canada reissued a “buy” rating and set a $107.00 price objective on shares of Crown Castle International Corporation in a report on Tuesday, August 29th. Zacks Investment Research lowered Crown Castle International Corporation from a “strong-buy” rating to a “hold” rating in a report on Monday, September 25th. Citigroup Inc. increased their price objective on Crown Castle International Corporation from $96.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, August 28th. Finally, Barclays PLC increased their price objective on Crown Castle International Corporation from $101.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $110.04.

Crown Castle International Corporation (CCI) traded down 0.94% during mid-day trading on Monday, hitting $104.00. The stock had a trading volume of 1,024,501 shares. Crown Castle International Corporation has a 1-year low of $79.38 and a 1-year high of $108.88. The firm’s 50-day moving average price is $102.89 and its 200-day moving average price is $100.47. The stock has a market cap of $42.25 billion, a PE ratio of 83.00 and a beta of 0.16.

Crown Castle International Corporation (NYSE:CCI) last released its earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.07). The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. Crown Castle International Corporation had a net margin of 11.35% and a return on equity of 5.93%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 earnings per share. On average, equities analysts expect that Crown Castle International Corporation will post $1.09 earnings per share for the current year.

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In related news, Director J Landis Martin bought 30,000 shares of the company’s stock in a transaction on Friday, July 28th. The shares were purchased at an average price of $100.64 per share, for a total transaction of $3,019,200.00. Following the completion of the transaction, the director now directly owns 99,335 shares in the company, valued at approximately $9,997,074.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.41% of the company’s stock.

Large investors have recently bought and sold shares of the business. Winslow Evans & Crocker Inc. lifted its position in shares of Crown Castle International Corporation by 36.0% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,050 shares of the real estate investment trust’s stock worth $104,000 after acquiring an additional 278 shares in the last quarter. Capital Analysts LLC lifted its position in shares of Crown Castle International Corporation by 5.0% during the second quarter. Capital Analysts LLC now owns 1,113 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 53 shares in the last quarter. Crow Point Partners LLC purchased a new stake in shares of Crown Castle International Corporation during the third quarter worth $151,000. Parallel Advisors LLC lifted its position in shares of Crown Castle International Corporation by 35.3% during the second quarter. Parallel Advisors LLC now owns 1,727 shares of the real estate investment trust’s stock worth $174,000 after acquiring an additional 451 shares in the last quarter. Finally, Solaris Asset Management LLC lifted its position in shares of Crown Castle International Corporation by 5.1% during the second quarter. Solaris Asset Management LLC now owns 1,855 shares of the real estate investment trust’s stock worth $186,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 82.90% of the company’s stock.

Crown Castle International Corporation Company Profile

Castle International Corp. (CCIC) is a real estate investment trust (REIT) company. The Company owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers), and to a lesser extent, distributed antenna systems (DAS), a type of small cell network (small cells), and interests in land under third party towers in various forms (third party land interests).

Analyst Recommendations for Crown Castle International Corporation (NYSE:CCI)

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