Barclays Raises Crown Castle (NYSE:CCI) Price Target to $92.00

Crown Castle (NYSE:CCIGet Free Report) had its target price hoisted by Barclays from $91.00 to $92.00 in a research report issued on Monday,MarketScreener reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s target price would indicate a potential upside of 2.44% from the stock’s current price.

A number of other research firms have also recently issued reports on CCI. Sanford C. Bernstein assumed coverage on Crown Castle in a research note on Thursday, March 5th. They set an “outperform” rating and a $102.00 target price for the company. Royal Bank Of Canada cut their price target on shares of Crown Castle from $112.00 to $110.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. Zacks Research upgraded shares of Crown Castle from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. KeyCorp raised their price objective on shares of Crown Castle from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Finally, Jefferies Financial Group boosted their price objective on shares of Crown Castle from $84.00 to $89.00 and gave the company a “hold” rating in a research report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.39.

Get Our Latest Stock Analysis on CCI

Crown Castle Trading Down 0.4%

NYSE:CCI opened at $89.81 on Monday. Crown Castle has a 1 year low of $75.96 and a 1 year high of $115.76. The stock has a market cap of $39.19 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 0.45 and a beta of 0.93. The stock has a 50-day moving average price of $85.81 and a two-hundred day moving average price of $88.16.

Crown Castle (NYSE:CCIGet Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.55. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.42 million. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 earnings per share. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. Sell-side analysts forecast that Crown Castle will post 4.22 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Robert Sean Collins sold 3,000 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $87.49, for a total value of $262,470.00. Following the sale, the vice president owned 5,800 shares of the company’s stock, valued at $507,442. The trade was a 34.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total transaction of $401,481.00. Following the transaction, the executive vice president owned 25,183 shares of the company’s stock, valued at $2,174,300.22. The trade was a 15.59% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Crown Castle

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Crown Castle during the 4th quarter worth about $594,670,000. Lazard Asset Management LLC increased its position in shares of Crown Castle by 124.2% in the fourth quarter. Lazard Asset Management LLC now owns 11,635,117 shares of the real estate investment trust’s stock valued at $1,034,013,000 after acquiring an additional 6,445,237 shares during the last quarter. Cohen & Steers Inc. raised its holdings in Crown Castle by 11.0% during the fourth quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust’s stock worth $3,536,214,000 after acquiring an additional 3,953,685 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Crown Castle by 591.8% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,471,120 shares of the real estate investment trust’s stock worth $431,418,000 after acquiring an additional 3,824,778 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Crown Castle by 422.5% during the fourth quarter. Principal Financial Group Inc. now owns 3,581,154 shares of the real estate investment trust’s stock valued at $318,258,000 after purchasing an additional 2,895,756 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Company Profile

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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.

Further Reading

Analyst Recommendations for Crown Castle (NYSE:CCI)

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