Crown Castle (NYSE:CCI) Price Target Cut to $116.00 by Analysts at UBS Group

Crown Castle (NYSE:CCI) had its price target decreased by equities research analysts at UBS Group from $127.00 to $116.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. UBS Group’s price target points to a potential upside of 33.56% from the stock’s current price.

CCI has been the subject of a number of other research reports. Citigroup dropped their price objective on Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Royal Bank Of Canada reduced their price target on Crown Castle from $112.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. Barclays reiterated an “equal weight” rating and issued a $101.00 target price (down from $104.00) on shares of Crown Castle in a research note on Monday, December 1st. New Street Research lowered Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a research note on Monday, January 5th. Finally, Scotiabank lowered their price target on Crown Castle from $114.00 to $96.00 and set a “sector perform” rating for the company in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.11.

Crown Castle Stock Performance

NYSE:CCI traded down $4.02 during mid-day trading on Tuesday, reaching $86.85. The stock had a trading volume of 2,854,352 shares, compared to its average volume of 2,836,926. Crown Castle has a twelve month low of $83.21 and a twelve month high of $115.76. The business has a 50 day simple moving average of $89.06 and a 200 day simple moving average of $95.59. The firm has a market capitalization of $37.82 billion, a price-to-earnings ratio of -8.17, a PEG ratio of 0.58 and a beta of 0.96.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the business posted $1.84 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, sell-side analysts expect that Crown Castle will post 6.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $98.08, for a total value of $2,942,400.00. Following the completion of the transaction, the executive vice president owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. This represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.10% of the stock is currently owned by insiders.

Institutional Trading of Crown Castle

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Country Club Bank boosted its stake in Crown Castle by 20.1% during the third quarter. Country Club Bank now owns 70,778 shares of the real estate investment trust’s stock valued at $6,808,000 after buying an additional 11,851 shares in the last quarter. Miller Howard Investments Inc. NY acquired a new position in Crown Castle in the third quarter worth approximately $2,578,000. AlphaCore Capital LLC lifted its position in shares of Crown Castle by 213.8% during the 2nd quarter. AlphaCore Capital LLC now owns 11,152 shares of the real estate investment trust’s stock valued at $1,146,000 after acquiring an additional 7,598 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Crown Castle by 3,051.5% during the 2nd quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock worth $562,221,000 after acquiring an additional 5,299,155 shares in the last quarter. Finally, ARS Investment Partners LLC grew its holdings in shares of Crown Castle by 22.7% in the 3rd quarter. ARS Investment Partners LLC now owns 95,685 shares of the real estate investment trust’s stock worth $9,233,000 after acquiring an additional 17,690 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.