Crown Castle International Corporation (NYSE:CCI) was downgraded by equities researchers at UBS AG from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday.

Other research analysts also recently issued reports about the stock. Bank of America Corporation boosted their price objective on shares of Crown Castle International Corporation from $107.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, September 8th. Royal Bank Of Canada reissued a “buy” rating and set a $107.00 price objective on shares of Crown Castle International Corporation in a research report on Tuesday, August 29th. Macquarie reissued a “buy” rating and set a $107.00 price objective on shares of Crown Castle International Corporation in a research report on Wednesday, July 19th. Jefferies Group LLC reissued a “buy” rating and set a $110.00 price objective on shares of Crown Castle International Corporation in a research report on Monday, July 10th. Finally, BidaskClub raised shares of Crown Castle International Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Crown Castle International Corporation presently has a consensus rating of “Buy” and an average target price of $107.50.

Shares of Crown Castle International Corporation (NYSE:CCI) opened at 101.38 on Monday. Crown Castle International Corporation has a 52-week low of $79.38 and a 52-week high of $108.88. The stock’s 50 day moving average is $103.48 and its 200 day moving average is $100.27. The firm has a market capitalization of $41.19 billion, a PE ratio of 80.91 and a beta of 0.16.

Crown Castle International Corporation (NYSE:CCI) last issued its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.03. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Crown Castle International Corporation had a net margin of 11.14% and a return on equity of 6.21%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 EPS. On average, equities research analysts forecast that Crown Castle International Corporation will post $1.11 EPS for the current year.

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In other Crown Castle International Corporation news, Director J Landis Martin bought 30,000 shares of Crown Castle International Corporation stock in a transaction dated 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 of the company’s stock, valued at $9,997,074.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Crown Castle International Corporation by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 24,372,787 shares of the real estate investment trust’s stock worth $2,441,666,000 after buying an additional 891,908 shares during the period. BlackRock Inc. grew its position in shares of Crown Castle International Corporation by 4.2% in the 2nd quarter. BlackRock Inc. now owns 24,254,770 shares of the real estate investment trust’s stock worth $2,429,841,000 after buying an additional 975,757 shares during the period. Capital World Investors grew its position in shares of Crown Castle International Corporation by 12.6% in the 2nd quarter. Capital World Investors now owns 23,132,825 shares of the real estate investment trust’s stock worth $2,317,446,000 after buying an additional 2,584,490 shares during the period. State Street Corp grew its position in shares of Crown Castle International Corporation by 1.0% in the 1st quarter. State Street Corp now owns 14,766,574 shares of the real estate investment trust’s stock worth $1,394,708,000 after buying an additional 147,313 shares during the period. Finally, Capital International Investors grew its position in shares of Crown Castle International Corporation by 10.4% in the 2nd quarter. Capital International Investors now owns 8,445,600 shares of the real estate investment trust’s stock worth $846,080,000 after buying an additional 793,400 shares during the period. 82.90% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle International Corporation Company Profile

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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