Crown Castle (NYSE:CCI) Given New $107.00 Price Target at BMO Capital Markets

Crown Castle (NYSE:CCI) had its price objective cut by analysts at BMO Capital Markets from $114.00 to $107.00 in a report released on Wednesday,MarketScreener reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ target price would suggest a potential upside of 21.12% from the stock’s previous close.

CCI has been the subject of several other reports. JPMorgan Chase & Co. cut their price objective on Crown Castle from $120.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Crown Castle in a research report on Monday. Raymond James Financial reduced their price objective on Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a research report on Thursday, October 23rd. The Goldman Sachs Group increased their price objective on Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Finally, KeyCorp cut their target price on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, September 17th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $111.59.

Crown Castle Price Performance

CCI opened at $88.35 on Wednesday. Crown Castle has a 1-year low of $84.20 and a 1-year high of $115.76. The stock has a market cap of $38.47 billion, a P/E ratio of -8.32, a P/E/G ratio of 0.66 and a beta of 0.94. The stock’s 50 day simple moving average is $93.56 and its 200 day simple moving average is $98.54.

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

Insider Buying and Selling at Crown Castle

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the transaction, the executive vice president owned 65,571 shares in the company, valued at $6,431,203.68. The trade was a 31.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Crown Castle

Hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Crown Castle by 10.2% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock worth $5,707,000 after buying an additional 5,144 shares in the last quarter. Inspire Trust Co. N.A. raised its holdings in Crown Castle by 25.0% in the first quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust’s stock valued at $2,085,000 after acquiring an additional 4,000 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake in Crown Castle by 1.1% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 751,212 shares of the real estate investment trust’s stock valued at $78,299,000 after acquiring an additional 8,308 shares during the last quarter. Dark Forest Capital Management LP grew its holdings in Crown Castle by 36.3% during the 1st quarter. Dark Forest Capital Management LP now owns 45,309 shares of the real estate investment trust’s stock worth $4,723,000 after acquiring an additional 12,063 shares in the last quarter. Finally, OLD Mission Capital LLC bought a new stake in shares of Crown Castle in the 1st quarter worth about $408,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.