TheStreet Downgrades CROWN CASTLE In/SH SH (CCI) to C+

CROWN CASTLE In/SH SH (NYSE:CCI) was downgraded by investment analysts at TheStreet from a “b” rating to a “c+” rating in a note issued to investors on Wednesday.

CCI has been the subject of a number of other research reports. Citigroup increased their target price on shares of CROWN CASTLE In/SH SH from $109.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 24th. Zacks Investment Research cut shares of CROWN CASTLE In/SH SH from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Guggenheim reiterated a “buy” rating and set a $120.00 target price on shares of CROWN CASTLE In/SH SH in a research report on Friday, July 20th. UBS Group set a $120.00 target price on shares of CROWN CASTLE In/SH SH and gave the stock a “buy” rating in a research report on Friday, September 28th. Finally, Morgan Stanley increased their target price on shares of CROWN CASTLE In/SH SH from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, August 16th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $117.45.

Shares of CROWN CASTLE In/SH SH stock opened at $106.62 on Wednesday. The stock has a market cap of $44.30 billion, a P/E ratio of 21.98, a PEG ratio of 1.62 and a beta of 0.35. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.26. CROWN CASTLE In/SH SH has a 12-month low of $98.85 and a 12-month high of $114.97.

CROWN CASTLE In/SH SH (NYSE:CCI) last announced its earnings results on Wednesday, October 17th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.35 billion. CROWN CASTLE In/SH SH had a net margin of 10.07% and a return on equity of 4.20%. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same quarter last year, the company posted $0.21 EPS. As a group, equities research analysts forecast that CROWN CASTLE In/SH SH will post 5.24 EPS for the current fiscal year.

In related news, Director J Landis Martin acquired 6,100 shares of the stock in a transaction on Tuesday, August 7th. The stock was purchased at an average price of $110.14 per share, for a total transaction of $671,854.00. Following the transaction, the director now owns 107,822 shares of the company’s stock, valued at approximately $11,875,515.08. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert E. Garrison II sold 2,451 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $113.96, for a total transaction of $279,315.96. Following the completion of the sale, the director now owns 23,100 shares of the company’s stock, valued at approximately $2,632,476. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Rampart Investment Management Company LLC boosted its stake in shares of CROWN CASTLE In/SH SH by 74.0% in the 2nd quarter. Rampart Investment Management Company LLC now owns 31,436 shares of the real estate investment trust’s stock valued at $3,389,000 after purchasing an additional 13,371 shares during the last quarter. Cadence Capital Management LLC boosted its stake in shares of CROWN CASTLE In/SH SH by 5.5% in the 2nd quarter. Cadence Capital Management LLC now owns 22,379 shares of the real estate investment trust’s stock valued at $2,413,000 after purchasing an additional 1,162 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in shares of CROWN CASTLE In/SH SH by 1,321.9% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,760,722 shares of the real estate investment trust’s stock valued at $282,092,000 after purchasing an additional 2,566,570 shares during the last quarter. Summit X LLC boosted its stake in shares of CROWN CASTLE In/SH SH by 80.3% in the 2nd quarter. Summit X LLC now owns 3,705 shares of the real estate investment trust’s stock valued at $403,000 after purchasing an additional 1,650 shares during the last quarter. Finally, First American Bank bought a new position in shares of CROWN CASTLE In/SH SH in the 3rd quarter valued at about $3,305,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.

CROWN CASTLE In/SH SH Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 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.

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Analyst Recommendations for CROWN CASTLE In/SH SH (NYSE:CCI)

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