Crown Castle (NYSE:CCI) Given New $124.00 Price Target at JPMorgan Chase & Co.

Crown Castle (NYSE:CCI) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $115.00 to $124.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 5.60% from the company’s previous close.

CCI has been the topic of several other reports. Bank of America lifted their target price on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Royal Bank of Canada increased their target price on shares of Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. The Goldman Sachs Group started coverage on shares of Crown Castle in a report on Monday, July 1st. They set a “neutral” rating and a $104.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Finally, TD Cowen raised their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $114.33.

Crown Castle Trading Up 0.5 %

Crown Castle stock opened at $117.42 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. The company has a market cap of $51.02 billion, a P/E ratio of 36.69 and a beta of 0.85. The business has a 50-day simple moving average of $112.13 and a two-hundred day simple moving average of $104.07. Crown Castle has a 52-week low of $84.72 and a 52-week high of $120.92.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The firm’s revenue was down 12.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.05 earnings per share. Analysts predict that Crown Castle will post 6.64 EPS for the current year.

Insider Transactions at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the sale, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.39% of the company’s stock.

Institutional Trading of Crown Castle

Large investors have recently made changes to their positions in the business. Fisher Asset Management LLC increased its position in shares of Crown Castle by 16.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,547,032 shares of the real estate investment trust’s stock valued at $523,773,000 after purchasing an additional 632,398 shares during the last quarter. BOKF NA increased its position in Crown Castle by 25.6% during the first quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after acquiring an additional 815 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Crown Castle by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock valued at $98,570,000 after acquiring an additional 8,136 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Crown Castle in the first quarter valued at $4,425,000. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Crown Castle by 30.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock worth $3,789,000 after acquiring an additional 8,346 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

About Crown Castle

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.