CROWN CASTLE IN/SH SH (NYSE:CCI) Lifted to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of CROWN CASTLE IN/SH SH (NYSE:CCI) from a neutral rating to an overweight rating in a research note issued to investors on Thursday, 24/7 WallStreet reports. The brokerage currently has $150.00 price target on the real estate investment trust’s stock, up from their previous price target of $125.00.

Several other brokerages have also recently 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 on the stock. in a research note on Thursday, June 13th. Guggenheim cut shares of CROWN CASTLE IN/SH SH from a buy rating to a neutral rating in a research note on Friday, April 12th. They noted that the move was a valuation call. Morgan Stanley boosted their price target on shares of CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the stock an overweight rating in a research note on Monday, May 20th. UBS Group cut shares of CROWN CASTLE IN/SH SH from a buy rating to a neutral rating and set a $130.00 price target on the stock. in a research note on Thursday, April 11th. Finally, Wells Fargo & Co boosted their price target on shares of CROWN CASTLE IN/SH SH from $129.00 to $142.00 and gave the stock an outperform rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $126.70.

CROWN CASTLE IN/SH SH stock traded down $0.68 during mid-day trading on Thursday, hitting $134.55. The stock had a trading volume of 4,566 shares, compared to its average volume of 2,068,967. The stock has a market cap of $56.22 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 1.55 and a beta of 0.33. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.76 and a quick ratio of 0.76. The company has a 50 day moving average of $132.32. CROWN CASTLE IN/SH SH has a one year low of $103.21 and a one year high of $137.85.

CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.85). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.42 billion. CROWN CASTLE IN/SH SH had a return on equity of 7.00% and a net margin of 14.62%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. On average, research analysts predict that CROWN CASTLE IN/SH SH will post 5.64 earnings per share for the current year.

In related news, VP Robert Sean Collins sold 1,200 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $125.19, for a total value of $150,228.00. Following the sale, the vice president now directly owns 1,616 shares of the company’s stock, valued at approximately $202,307.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director J Landis Martin acquired 16,300 shares of CROWN CASTLE IN/SH SH stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average cost of $127.33 per share, for a total transaction of $2,075,479.00. Following the completion of the transaction, the director now directly owns 130,617 shares in the company, valued at $16,631,462.61. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Ropes Wealth Advisors LLC bought a new position in CROWN CASTLE IN/SH SH in the 2nd quarter worth about $25,000. Kavar Capital Partners LLC bought a new position in CROWN CASTLE IN/SH SH in the 2nd quarter worth about $26,000. Lenox Wealth Management Inc. grew its stake in CROWN CASTLE IN/SH SH by 2,222.2% in the 1st quarter. Lenox Wealth Management Inc. now owns 209 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 200 shares in the last quarter. CX Institutional grew its stake in CROWN CASTLE IN/SH SH by 160.7% in the 1st quarter. CX Institutional now owns 232 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 143 shares in the last quarter. Finally, Northern Oak Wealth Management Inc. bought a new position in CROWN CASTLE IN/SH SH in the 2nd quarter worth about $31,000. 92.06% 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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Analyst Recommendations for CROWN CASTLE IN/SH SH (NYSE:CCI)

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