Crown Castle International Corporation (NYSE:CCI) Price Target Raised to $114.00 at Bank of America Corporation

Crown Castle International Corporation (NYSE:CCI) had its price objective increased by investment analysts at Bank of America Corporation from $107.00 to $114.00 in a research note issued on Friday, September 8th. The firm presently has a “buy” rating on the real estate investment trust’s stock. Bank of America Corporation’s target price points to a potential upside of 8.08% from the stock’s current price.

CCI has been the subject of a number of other research reports. Deutsche Bank AG upped their target price on Crown Castle International Corporation from $108.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, June 9th. Barclays PLC reduced their price target on Crown Castle International Corporation from $101.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, May 22nd. Macquarie reaffirmed a “buy” rating and set a $107.00 price target on shares of Crown Castle International Corporation in a research report on Wednesday, July 19th. Citigroup Inc. upped their price target on Crown Castle International Corporation from $96.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. Finally, BidaskClub downgraded Crown Castle International Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $106.45.

Crown Castle International Corporation (NYSE:CCI) opened at 105.48 on Friday. The company has a market cap of $42.85 billion, a price-to-earnings ratio of 84.18 and a beta of 0.18. The company’s 50-day moving average price is $104.28 and its 200-day moving average price is $98.78. Crown Castle International Corporation has a 52-week low of $79.38 and a 52-week high of $108.88.

Crown Castle International Corporation (NYSE:CCI) last posted its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The company had revenue of $1.04 billion during 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%. Crown Castle International Corporation’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. Equities research analysts expect that Crown Castle International Corporation will post $1.16 EPS for the current fiscal year.

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In other news, Director J Landis Martin bought 30,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were purchased at an average cost of $100.64 per share, with a total value of $3,019,200.00. Following the transaction, the director now directly owns 99,335 shares in the company, valued at $9,997,074.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE grew its position in Crown Castle International Corporation by 2.5% during the 1st quarter. US Bancorp DE now owns 82,075 shares of the real estate investment trust’s stock worth $7,752,000 after purchasing an additional 1,983 shares during the period. AT Bancorp grew its position in Crown Castle International Corporation by 1.6% during the 1st quarter. AT Bancorp now owns 14,472 shares of the real estate investment trust’s stock worth $1,366,000 after purchasing an additional 230 shares during the period. Wellington Shields Capital Management LLC grew its position in Crown Castle International Corporation by 3.7% during the 1st quarter. Wellington Shields Capital Management LLC now owns 11,405 shares of the real estate investment trust’s stock worth $1,077,000 after purchasing an additional 405 shares during the period. Bank of New York Mellon Corp grew its position in Crown Castle International Corporation by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,200,084 shares of the real estate investment trust’s stock worth $302,248,000 after purchasing an additional 69,732 shares during the period. Finally, Suntrust Banks Inc. grew its position in Crown Castle International Corporation by 16.2% during the 1st quarter. Suntrust Banks Inc. now owns 382,099 shares of the real estate investment trust’s stock worth $36,087,000 after purchasing an additional 53,216 shares during the period. 82.98% of the stock is currently owned by hedge funds and other institutional investors.

About Crown Castle International Corporation

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).

Analyst Recommendations for Crown Castle International Corporation (NYSE:CCI)

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