BMO Capital Markets Boosts Crown Castle (NYSE:CCI) Price Target to $100.00

Crown Castle (NYSE:CCI) had its price target hoisted by BMO Capital Markets from $91.00 to $100.00 in a report issued on Friday,MarketScreener reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 12.71% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. UBS Group lowered their price objective on shares of Crown Castle from $116.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, February 5th. Wolfe Research lowered their price objective on shares of Crown Castle from $114.00 to $94.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Zacks Research upgraded shares of Crown Castle from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Barclays lowered their price objective on shares of Crown Castle from $101.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, February 17th. Finally, Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.86.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $88.72 on Friday. Crown Castle has a 1 year low of $75.96 and a 1 year high of $115.76. The firm has a market cap of $38.72 billion, a PE ratio of 87.84, a PEG ratio of 0.44 and a beta of 0.94. The company has a 50 day simple moving average of $86.05 and a two-hundred day simple moving average of $88.82.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 4,650 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $86.34, for a total value of $401,481.00. Following the completion of the transaction, the executive vice president directly owned 25,183 shares in the company, valued at approximately $2,174,300.22. This represents a 15.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert Sean Collins sold 3,000 shares of the company’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $87.49, for a total transaction of $262,470.00. Following the completion of the transaction, the vice president owned 5,800 shares of the company’s stock, valued at $507,442. This trade represents a 34.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. LRI Investments LLC bought a new position in shares of Crown Castle in the 3rd quarter worth about $29,000. Wiser Advisor Group LLC bought a new position in shares of Crown Castle in the 3rd quarter worth about $29,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Crown Castle in the 3rd quarter worth about $31,000. Triumph Capital Management bought a new position in shares of Crown Castle in the 3rd quarter worth about $31,000. Finally, Salomon & Ludwin LLC increased its stake in shares of Crown Castle by 128.7% in the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 215 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.