CROWN CASTLE IN/SH SH (NYSE:CCI) Receives Consensus Recommendation of “Hold” from Brokerages
CROWN CASTLE IN/SH SH (NYSE:CCI) has earned a consensus recommendation of “Hold” from the fifteen brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $124.11.
A number of research firms have commented on CCI. New Street Research cut shares of CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 price target for the company. in a report on Thursday, June 13th. UBS Group reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Lumentum in a research note on Thursday, April 11th. Wells Fargo & Co raised their price objective on shares of Sempra Energy from $137.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Morgan Stanley raised their price objective on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, Guggenheim lowered shares of Anadarko Petroleum from a “buy” rating to a “hold” rating and set a $69.00 price objective on the stock. in a research note on Friday, April 12th.
NYSE:CCI traded up $2.52 during trading hours on Thursday, reaching $132.68. The company had a trading volume of 1,785,565 shares, compared to its average volume of 1,890,518. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.99. The company has a market capitalization of $55.03 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 1.49 and a beta of 0.33. The stock has a 50-day moving average price of $132.37. CROWN CASTLE IN/SH SH has a twelve month low of $103.21 and a twelve month high of $137.85.
In other news, Director J Landis Martin purchased 16,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average cost of $127.33 per share, with a total value of $2,075,479.00. Following the completion of the transaction, the director now directly owns 130,617 shares of the company’s stock, valued at $16,631,462.61. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert Sean Collins sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $125.19, for a total transaction of $150,228.00. Following the transaction, the vice president now directly owns 1,616 shares in the company, valued at $202,307.04. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Truewealth LLC lifted its position in shares of CROWN CASTLE IN/SH SH by 48.0% during the first quarter. Truewealth LLC now owns 256 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 83 shares in the last quarter. Strategic Investment Advisors MI raised its position in CROWN CASTLE IN/SH SH by 2.4% in the first quarter. Strategic Investment Advisors MI now owns 3,518 shares of the real estate investment trust’s stock worth $450,000 after acquiring an additional 84 shares during the period. Lindbrook Capital LLC raised its position in CROWN CASTLE IN/SH SH by 11.4% in the second quarter. Lindbrook Capital LLC now owns 821 shares of the real estate investment trust’s stock worth $107,000 after acquiring an additional 84 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in CROWN CASTLE IN/SH SH by 3.4% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,621 shares of the real estate investment trust’s stock worth $335,000 after acquiring an additional 85 shares during the period. Finally, Cornerstone Advisors Inc. raised its position in CROWN CASTLE IN/SH SH by 4.6% in the second quarter. Cornerstone Advisors Inc. now owns 2,045 shares of the real estate investment trust’s stock worth $267,000 after acquiring an additional 89 shares during the period. 92.10% of the stock is currently owned by institutional investors.
About CROWN CASTLE IN/SH SH
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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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