Crown Castle (NYSE:CCI) Given New $120.00 Price Target at JPMorgan Chase & Co.

Crown Castle (NYSE:CCI - Get Free Report) had its price objective boosted by equities researchers at JPMorgan Chase & Co. from $115.00 to $120.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 7.53% from the stock's current price.

Several other research analysts also recently commented on the stock. UBS Group lifted their target price on shares of Crown Castle from $118.00 to $124.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Bank of America began coverage on shares of Crown Castle in a research report on Monday, May 19th. They issued a "buy" rating and a $115.00 price target on the stock. Barclays raised their price target on shares of Crown Castle from $113.00 to $117.00 and gave the stock an "overweight" rating in a research report on Wednesday. KeyCorp raised their price target on shares of Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, JMP Securities restated a "market outperform" rating and issued a $125.00 price target on shares of Crown Castle in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $115.94.

Crown Castle Trading Down 2.0%

CCI stock traded down $2.31 during midday trading on Thursday, reaching $111.60. The company had a trading volume of 3,419,991 shares, compared to its average volume of 2,744,282. Crown Castle has a 1 year low of $84.20 and a 1 year high of $120.92. The company has a market capitalization of $48.60 billion, a P/E ratio of -10.46, a PEG ratio of 0.86 and a beta of 0.88. The company has a 50 day moving average of $102.19 and a two-hundred day moving average of $98.56.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.02. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. Crown Castle's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 EPS. On average, sell-side analysts anticipate that Crown Castle will post 6.67 earnings per share for the current year.

Insider Buying and Selling

In other Crown Castle news, CEO Daniel K. Schlanger sold 20,000 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.38, for a total value of $2,127,600.00. Following the completion of the transaction, the chief executive officer owned 110,571 shares of the company's stock, valued at approximately $11,762,542.98. The trade was a 15.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $106.37, for a total transaction of $850,960.00. Following the sale, the executive vice president directly owned 20,528 shares of the company's stock, valued at $2,183,563.36. The trade was a 28.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,600 shares of company stock valued at $3,362,752 over the last three months. 0.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Crown Castle by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock valued at $7,175,256,000 after buying an additional 6,341,150 shares during the period. Norges Bank purchased a new stake in Crown Castle during the 4th quarter valued at $561,714,000. Wellington Management Group LLP raised its holdings in Crown Castle by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust's stock valued at $1,892,332,000 after buying an additional 3,321,249 shares during the period. Nuveen LLC purchased a new stake in Crown Castle during the 1st quarter valued at $305,876,000. Finally, Deutsche Bank AG raised its holdings in Crown Castle by 60.9% during the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust's stock valued at $570,443,000 after buying an additional 2,072,198 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Company Profile

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.