Crown Castle International Corporation (NYSE:CCI) had its price objective decreased by analysts at Citigroup Inc. from $100.00 to $96.00 in a research note issued to investors on Friday, July 21st. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup Inc.’s price objective suggests a potential downside of 4.85% from the company’s current price.
A number of other research firms have also weighed in on CCI. Royal Bank Of Canada reissued a “buy” rating and set a $107.00 price objective on shares of Crown Castle International Corporation in a research note on Tuesday, April 18th. Jefferies Group LLC reissued a “buy” rating and set a $110.00 price objective on shares of Crown Castle International Corporation in a research note on Monday, July 10th. BidaskClub lowered Crown Castle International Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Crown Castle International Corporation in a research note on Monday, June 12th. Finally, Zacks Investment Research raised Crown Castle International Corporation from a “hold” rating to a “strong-buy” rating and set a $114.00 price objective on the stock in a research note on Tuesday, July 11th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $104.95.
Shares of Crown Castle International Corporation (NYSE:CCI) traded up 0.31% during mid-day trading on Friday, hitting $100.89. The stock had a trading volume of 2,762,244 shares. Crown Castle International Corporation has a one year low of $79.38 and a one year high of $104.68. The firm has a 50 day moving average of $99.88 and a 200-day moving average of $95.13. The stock has a market cap of $36.94 billion, a P/E ratio of 80.52 and a beta of 0.20.
Crown Castle International Corporation (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.03. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Crown Castle International Corporation had a return on equity of 6.21% and a net margin of 11.14%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 earnings per share. Equities research analysts expect that Crown Castle International Corporation will post $1.22 earnings per share for the current fiscal year.
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In other Crown Castle International Corporation news, COO James D. Young sold 24,646 shares of Crown Castle International Corporation stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $97.50, for a total value of $2,402,985.00. Following the sale, the chief operating officer now owns 140,006 shares in the company, valued at $13,650,585. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J Landis Martin acquired 30,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was purchased at an average price of $100.64 per share, for a total transaction of $3,019,200.00. Following the acquisition, the director now directly owns 99,335 shares in the company, valued at approximately $9,997,074.40. The disclosure for this purchase can be found here. 0.41% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the stock. Guardian Life Insurance Co. of America increased its stake in Crown Castle International Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,391 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 10 shares in the last quarter. CENTRAL TRUST Co increased its stake in Crown Castle International Corporation by 1.0% in the first quarter. CENTRAL TRUST Co now owns 1,774 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 17 shares in the last quarter. Bank of The West increased its stake in Crown Castle International Corporation by 0.7% in the first quarter. Bank of The West now owns 5,720 shares of the real estate investment trust’s stock valued at $540,000 after buying an additional 42 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Crown Castle International Corporation by 0.7% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 7,625 shares of the real estate investment trust’s stock valued at $764,000 after buying an additional 50 shares in the last quarter. Finally, FineMark National Bank & Trust increased its stake in Crown Castle International Corporation by 1.2% in the second quarter. FineMark National Bank & Trust now owns 5,032 shares of the real estate investment trust’s stock valued at $504,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 83.12% 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).
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