Shares of Crown Castle International Corp. (REIT) (NYSE:CCI) have received an average rating of “Buy” from the seventeen ratings firms that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $112.73.
A number of brokerages have issued reports on CCI. Deutsche Bank restated a “buy” rating and set a $120.00 target price on shares of Crown Castle International in a research report on Monday, January 22nd. Zacks Investment Research upgraded shares of Crown Castle International from a “sell” rating to a “hold” rating in a research report on Monday, January 29th. Wells Fargo & Co lifted their target price on shares of Crown Castle International from $112.50 to $116.00 and gave the stock an “outperform” rating in a research report on Monday, October 23rd. Guggenheim reiterated a “buy” rating and set a $115.00 price target on shares of Crown Castle International in a report on Friday, January 26th. Finally, KeyCorp lifted their price target on shares of Crown Castle International from $106.00 to $114.00 in a report on Monday, November 27th.
Several hedge funds and other institutional investors have recently modified their holdings of CCI. Daiwa Securities Group Inc. grew its holdings in shares of Crown Castle International by 43.4% during the third quarter. Daiwa Securities Group Inc. now owns 5,357,951 shares of the real estate investment trust’s stock worth $535,687,000 after buying an additional 1,620,886 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Crown Castle International by 22.7% in the fourth quarter. Alliancebernstein L.P. now owns 7,247,868 shares of the real estate investment trust’s stock valued at $804,586,000 after purchasing an additional 1,338,562 shares during the period. Dimensional Fund Advisors LP grew its holdings in Crown Castle International by 91.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,268,110 shares of the real estate investment trust’s stock valued at $226,769,000 after purchasing an additional 1,083,972 shares during the period. Eagle Asset Management Inc. grew its holdings in Crown Castle International by 296.6% in the fourth quarter. Eagle Asset Management Inc. now owns 1,296,485 shares of the real estate investment trust’s stock valued at $141,938,000 after purchasing an additional 969,591 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Crown Castle International by 29.5% in the third quarter. Principal Financial Group Inc. now owns 3,574,736 shares of the real estate investment trust’s stock valued at $357,402,000 after purchasing an additional 813,300 shares during the period. Institutional investors and hedge funds own 93.47% of the company’s stock.
Crown Castle International (NYSE:CCI) last announced its earnings results on Wednesday, January 24th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.84). The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.14 billion. Crown Castle International had a return on equity of 4.95% and a net margin of 10.21%. The business’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS. research analysts predict that Crown Castle International will post 5.25 earnings per share for the current fiscal year.
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Crown Castle International 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).
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