Crown Castle Stock (NYSE:CCI), Trade Ideas

Crown Castle

Crown Castle International owns and leases roughly 40,000 cell towers in the United States. It also owns more than 85,000 route miles of fiber. It leases space on its towers to wireless service providers, which install equipment on the towers to support their wireless networks. The company's fiber is primarily leased by wireless service providers to set up small-cell network infrastructure and by enterprises for their internal connection needs. Crown Castle's towers and fiber are predominantly located in the largest U.S. cities. The company has a very concentrated customer base, with about 75% of its revenue coming from the big three U.S. mobile carriers. Crown Castle operates as a real estate investment trust.

Crown Castle Intl

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AXON

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&#34;Mad Money Lightning Round,&#34; Jim Cramer recommended buying Cloudflare. &#34;I would buy it slowly because we&#39;ve got big selling going on in AI stock Meta,&#34; he added.

Jim Cramer: You&#39;re &#39;Dice Rolling&#39; With This Biopharma Stock, But Vista Energy Is &#39;A Good Situation&#39;

Reit,Real,Estate,Investment,Trust,Symbol.,Concept,Words,Reit,Real

REIT

Real Estate

PINE

4 REITs With Recent Price Target Cuts

Airtel Cell Tower

SBAC

These Tower REITs Yield Up to 6.6% and Have Track Records of Dividend Growth

Crown Castle Inc

Carlyle Credit Income Fund 8.75% Series A Preferred Shares due 2028

Carlyle Credit Income Fund

Carlyle Credit Income Fund Shares of Beneficial Interest

CCIF Acquisition Corp

Churchill Capital Corp IX

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer&nbsp;recommended buying Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>). &#8220;I would buy it slowly because we've got big selling going on in <a href="https://www.benzinga.com/markets/equities/24/03/37562085/why-cloudflare-shares-are-rising-today">AI stock Meta,&#8221; he added</a>.
On April 17, Cantor Fitzgerald analyst Yi Fu Lee reiterated Cloudflare with a Neutral and maintained a $100 price target.
Axon Enterprise, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>) is still good, even here, Cramer said.
Axon is projected to report first-quarter 2024 financial results after the closing bell on Monday, May 6.
The &#8220;Mad Money&#8221; host said he likes First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>).
On April 23, Evercore ISI Group analyst Sean Morgan assumed First Solar with an Outperform rating and maintained a price target of $227.
Cramer said he would own Vista Energy, S.A.B. de C.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>). &#8220;I think it's a good situation,&#8221; he added.
When asked about Crown Castle Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>), he said, &#8220;It's not that much worse than all the rest. I think you're OK.&#8221;
On April 17, Crown Castle reported upbeat first-quarter sales results.
Cramer said no to Astera Labs, Inc. (NASDAQ: ALAB. &#8220;You want to take the gain here,&#8221; he added.
On April 16, Evercore ISI Group initiated coverage on the stock with an Outperform rating and $100 price target.
&#8220;This is so speculative, I don't know, man. You're dice rolling here with this thing,&#8221; Cramer said when asked about Liquidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LQDA#NASDAQ">LQDA</a>). &#8220;I'm not going to be in the dice roll game, it's too hard.&#8221;
On April 10, Needham analyst Serge Belanger reiterated Liquidia with a Buy and maintained a $28 price target.
Price Action:
<ul>
<li>Axon Enterprise shares rose 0.3% to settle at $302.41 on Wednesday.</li>
<li>Cloudflare shares fell 0.2% to settle at $87.68.</li>
<li>Liquidia shares fell 3.1% to close at $12.55 on Wednesday.</li>
<li>First Solar shares fell 1.5% to close at $177.48 on Wednesday.</li>
<li>Vista shares fell 1.8% to close at $43.39.</li>
<li>Crown Castle shares fell 0.03% to settle at $95.44 on Wednesday.</li>
<li>Astera Labs shares fell 1% to close at $70.99 on Wednesday.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38405528/over-1m-bet-on-citi-trends-check-out-these-3-stocks-insiders-are-buying">Over $1M Bet On Citi Trends? Check Out These 3 Stocks Insiders Are Buying</a>
Image: Shutterstock

Jim Cramer: You're 'Dice Rolling' With This Biopharma Stock, But Vista Energy Is 'A Good Situation'

Barclays analyst Tim Long maintains Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) with a Equal-Weight and raises the price target from $111 to $112.

News

Price Target

Analyst Ratings

Barclays Maintains Equal-Weight on Crown Castle, Raises Price Target to $112

Most long-term investors are familiar with the consequences of stock prices experience after an analyst downgrade. Stocks can also slide when analysts maintain previous ratings but slash stock price targets by 10% or more.
As Wall Street grapples with Jerome Powell's new "higher for longer" message on rate cuts and stronger-than-expected economic data, many analysts have been slashing price targets on interest-sensitive stocks such as real estate investment trusts (REITs). Over the past week, 44 REITs across multiple subsectors have had price target cuts, with no let-up in sight.
Take a look at four of the most recent REITs to have analysts slash price targets. It's also noteworthy that three of the four had cuts from more than one analyst:
Alpine Income Property Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINE#NYSE">PINE</a>) is a Daytona Beach, Florida-based retail REIT that owns and operates 138 high-quality net-leased properties of 3.8 million square feet across 35 states. Sixty-five percent of its tenants are investment-grade companies such as Lowe's Cos. Inc., Dollar Tree Inc., Walgreens, Walmart Inc., Advanced Auto Parts Inc. and Dick's Sporting Goods Inc. As of March 30, Alpine Income Property Trust had an occupancy rate of 99%.
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On April 18, Alpine Income reported its first-quarter 2024 operating results. Funds from operations (FFO) of $0.41 per share topped the Street's view of $0.38 per share and its first-quarter 2023 FFO of $0.36 per share. Revenue of $12.47 million beat analysts' estimates of $11.66 million and was 116% above revenue of $11.17 million in the first quarter of 2023. Alpine Income Property Trust also maintained its full-year 2024 adjusted funds from operations (AFFO) guidance from a range of $1.53-$1.58 per share, slightly above the consensus estimate of $1.54 per share.&nbsp;
On April 19, JonesTrading analyst Jason Weaver maintained Alpine Income Property Trust with a Buy but lowered the price target from $19 to $18. On the same day, Stifel analyst Nathan Jones maintained a Buy on Alpine Income Property Trust but lowered the price target from $19 to $18.75.&nbsp;
Crown Castle Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) is a Houston-based specialized REIT that owns, operates and leases cell towers long-term. Crown Castle owns more than 40,000 cell towers, 90,000 route miles of fiber and 115,000 small cells in its portfolio. It works with businesses and governments to design and build solutions that meet connectivity needs like wireless coverage and custom fiber optic networks.&nbsp;
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On April 17, Crown Castle delivered its first-quarter operating results. AFFO of $1.72 beat the estimates of $1.69 per share but was well below $1.91 in the first quarter of 2023. Revenue of $1.64 billion told a similar story, topping the analyst estimate of $1.63 billion but declining from $1.77 billion in the first quarter of 2023. Full-year 2024 AFFO guidance of $6.85-$6.97 billion was better than the $6.88 consensus.&nbsp;
Crown Castle has been in the news in recent months because of the in-fighting between Boots Capital Management and Crown Castle's board of directors. Boots Capital, along with Crown Castle Co-Founder, Chairman and CEO Ted Miller, have asserted that the present board and management have underperformed and done a disservice to its shareholders. On April 11, Miller issued a statement that a representative from Boots Capital should be added to the Crown Castle Board rather than new President and CEO Steven Moskowitz.
On April 19, the board stated that it would not add Moskowitz as a director although he has been appointed president and CEO because it wished to avoid the expense and distraction of a lawsuit filed by Miller.&nbsp;&nbsp;
On April 19, Wells Fargo analyst Eric Luebchow maintained an Equal-Weight rating on Crown Castle but lowered the price target from $115 to $100. The same day, Argus Research analyst Marie Ferguson downgraded Crown Castle from Buy to Hold with no price target given. Bank of America Securities analyst David Barden maintained Crown Castle at Neutral and lowered the price target from $120 to $105.
Analyst Ferguson noted, "We expect the shares to continue to reflect sector rotation due to high interest rates and slower growth as industry-wide demand for wireless communications equipment remains sluggish."&nbsp;&nbsp;
On April 18, analysts at Jefferies, Scotiabank and BMO Capital Markets all maintained previous ratings on Crown Castle and all three also cut the price target. The deepest cut was from Scotiabank analyst Maher Yaghi, who slashed the price by 11.2% from $133 to $118.
Prologis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>) is a San Francisco-based industrial REIT that owns/manages approximately 1.2 billion square feet in 5,618 industrial logistics properties throughout the U.S. and 18 other countries. Prologis leases space and supplies equipment, robotics and other services to its customers.&nbsp;
On April 17, Prologis delivered its first-quarter 2024 earnings. Core FFO of $1.28 per share met the consensus estimate and was better than Prologis' Q1 2023 FFO of $1.22 per share. Revenue of $1.828 billion missed the consensus estimate of $1.865 billion but topped first-quarter 2023 revenue of $1.634 billion.
Prologis also reduced its full-year core FFO from $5.50-$5.64 to $5.45-$5.55 per share. Occupancy guidance of 96.5% to 97.5% was reduced to 95.75% to 96.75%.
Later that day, Barclays analyst Brendan Lynch maintained Prologis at Overweight but lowered the price target from $141 to $135. On April 18, Evercore ISI Group analyst Steve Sakwa maintained Prologis at In-Line but lowered the price target from $136 to $123. UBS analyst Brent Dilts maintained Prologis with a Buy while lowering the price target from $151 to $138.
Host Hotels &amp; Resorts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HST#NASDAQ">HST</a>) is a Bethesda, Maryland-based hotel REIT with 77 hotels containing 42,000 rooms in large markets across the U.S. Host Hotels is the only lodging REIT in the S&amp;P 500 and has been in the index since 2007. Its hotel brands include Marriott, Hyatt, Four Seasons and Hilton.&nbsp;
On April 19, UBS analyst Robin Farley maintained a Neutral rating on Host Hotels and lowered the price target from $21 to $20. Wells Fargo has an Overweight position and a $23 price target from March. Raymond James and Barclays have Outperform and Overweight positions, respectively, on Host Hotels from March as well.
Host Hotels will announce its first-quarter operating results on May 2.
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</ul>

Deutsche Bank analyst Matthew Niknam maintains Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) with a Hold and lowers the price target from $110 to $109.

Deutsche Bank Maintains Hold on Crown Castle, Lowers Price Target to $109

Tower real estate investment trusts (REITs) own and operate cell towers or communication towers. These towers are critical components of wireless communication infrastructure, providing space for antennas and equipment used by mobile network operators.
Tower REITs typically generate income by leasing space on their towers to wireless carriers, telecommunications companies, and other communication service providers. The demand for tower space has increased with the growth of mobile communications, 5G technology, and the expansion of wireless networks.
Here are three tower REITs you could buy today.
<h2 class="wp-block-heading">American Tower Corporation</h2>
American Tower (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMT#NYSE">AMT</a>) is the world's largest owner and operator of multitenant communications real estate. Its portfolio currently consists of over 224,000 communications sites across the globe.
American Tower currently pays a quarterly dividend of $1.70 per share, equating to an annualized dividend of $6.80 per share, which gives its stock a yield of about 3.9% at the time of this writing.
In addition to having a high yield, American Tower is a dividend-growth superstar. It has raised its annual dividend every year since converting to a REIT in 2012.
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<li>Investing in real estate just got a whole lot simpler. This <a href="https://www.benzinga.com/go/bezos-landlord">Jeff Bezos-backed startup will allow you to become a landlord</a> in just 10 minutes, and you only need $100.</li>
<li>Want To Grow Your Wealth Passively? Unlock Real Wealth with <a href="https://www.benzinga.com/money/cityfunds-yield">Cityfunds&#8217; Exclusive 8% Yield Fund</a>.</li>
</ul>
<h2 class="wp-block-heading">Crown Castle Inc.</h2>
Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) is one of the nation's leading providers of shared communications infrastructure with more than 40,000 cell towers and approximately 90,000 route miles of fiber across every major U.S. market.&nbsp;
Crown Castle currently pays a quarterly dividend of $1.565 per share, equating to an annualized dividend of $6.26 per share, which gives its stock a yield of about 6.6% at the time of this writing.&nbsp;
Like American Tower, Crown Castle is a dividend-growth superstar as it has raised its annual dividend every year since it converted to a REIT in 2014.
<h2 class="wp-block-heading">Trending:</h2>
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<li>Want to Create a Passive Income Stream? <a href="https://www.benzinga.com/go/grow-wealth-passively">These High-Yield Real Estate Notes Might Be Your Holy Grail</a></li>
</ul>
<h2 class="wp-block-heading">SBA Communications Corporation</h2>
SBA Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBAC#NASDAQ">SBAC</a>) is a leading owner and operator of wireless communications infrastructure with a portfolio of more than 39,000 communications sites across 16 markets in the Americas, Africa, and Asia.
SBA currently pays a quarterly dividend of $0.98 per share, equating to an annualized dividend of $3.92 per share, which gives its stock a yield of about 2% at the time of this writing.
While SBA's yield is not as flashy as the other two stocks, it's important to note that it has raised its annual dividend for four consecutive years, and <a href="https://www.sbasite.com/English/Investors-overview/news-events/news-details/2024/SBA-Communications-Corporation-Reports-Fourth-Quarter-2023-Results-Provides-Full-Year-2024-Outlook-and-Declares-Quarterly-Cash-Dividend/default.aspx">its 15% hike</a> in February has it on track for 2024 to mark the fifth consecutive year with an increase.
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Image Credit: tony-stoddard on Unsplash

Wells Fargo analyst Eric Luebchow maintains Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) with a Equal-Weight and lowers the price target from $115 to $100.

Wells Fargo Maintains Equal-Weight on Crown Castle, Lowers Price Target to $100

Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) has outperformed the market over the past 20 years by 2.08% on an annualized basis producing an average annual return of 9.73%. Currently, Crown Castle has a market capitalization of $41.54 billion. 
Buying $100 In CCI: If an investor had bought $100 of CCI stock 20 years ago, it would be worth $622.08 today based on a price of $95.49 for CCI at the time of writing.
<h3>Crown Castle's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713538892_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

Here's How Much $100 Invested In Crown Castle 20 Years Ago Would Be Worth Today

Argus Research analyst Marie Ferguson downgrades Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) from Buy to Hold.

Downgrades

Argus Research Downgrades Crown Castle to Hold

B of A Securities analyst David Barden maintains Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) with a Neutral and lowers the price target from $120 to $105.

B of A Securities Maintains Neutral on Crown Castle, Lowers Price Target to $105

In the latest quarter, 4 analysts provided ratings for Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>), showcasing a mix of bullish and bearish perspectives.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Crown Castle and provided 12-month price targets. The average target is $113.75, accompanied by a high estimate of $123.00 and a low estimate of $105.00. A 1.3% drop is evident in the current average compared to the previous average price target of $115.25. 
<img src="https://www.benzinga.com/files/images/story/2024/1713466828_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The standing of Crown Castle among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jonathan Petersen</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Buy</td>
<td>$123.00</td>
<td>$126.00</td>
</tr>
<tr>
<td>Ari Klein</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$105.00</td>
<td>$110.00</td>
</tr>
<tr>
<td>Maher Yaghi</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Perform</td>
<td>$118.00</td>
<td>$133.00</td>
</tr>
<tr>
<td>Jonathan Atkin</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$109.00</td>
<td>$92.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Crown Castle. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Crown Castle compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Crown Castle's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of Crown Castle's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/CCI/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Crown Castle analyst ratings.</a>
<h2>About Crown Castle</h2>
Crown Castle International owns and leases roughly 40,000 cell towers in the United States. It also owns more than 85,000 route miles of fiber. It leases space on its towers to wireless service providers, which install equipment on the towers to support their wireless networks. The company's fiber is primarily leased by wireless service providers to set up small-cell network infrastructure and by enterprises for their internal connection needs. Crown Castle's towers and fiber are predominantly located in the largest U.S. cities. The company has a very concentrated customer base, with about 75% of its revenue coming from the big three U.S. mobile carriers. Crown Castle operates as a real estate investment trust.
<h3>Key Indicators: Crown Castle's Financial Health</h3>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Decline in Revenue: Over the 3 months period, Crown Castle faced challenges, resulting in a decline of approximately -5.1% in revenue growth as of 31 December, 2023. This signifies a reduction in the company's top-line earnings. When compared to others in the Real Estate sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 21.68%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Crown Castle's ROE stands out, surpassing industry averages. With an impressive ROE of 5.56%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 0.94%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: Crown Castle's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 4.52.
<h2>What Are Analyst Ratings?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 4 Takes On Crown Castle

Jefferies analyst Jonathan Petersen maintains Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) with a Buy and lowers the price target from $126 to $123.

Jefferies Maintains Buy on Crown Castle, Lowers Price Target to $123

Crown Castle Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cci#NYSE">CCI</a>) reported upbeat first-quarter <a href="https://www.benzinga.com/quote/CCI/earnings">sales results on Wednesday</a>.
Crown Castle posted quarterly AFFO per share of $1.72, in-line with market estimates. The company&rsquo;s quarterly sales came in at $1.64 billion versus expectations of $1.63 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
&quot;I&#39;m pleased the team was able to continue to serve our customers well and deliver solid financial and operating results in the first quarter, and we remain on track to meet our full year 2024 outlook,&quot; said Tony Melone, who served as Crown Castle&#39;s Interim President and Chief Executive Officer (&quot;CEO&quot;). &quot;At the same time, we made significant progress on the fiber strategic review and appointed Steven Moskowitz, a proven leader with deep industry experience, as Crown Castle&#39;s new President and CEO. With over 25 years of demonstrated operating experience and a successful track record of value creation, I believe Steven&#39;s leadership will enable Crown Castle to execute its strategic and operating plans and grow value for all shareholders.&quot;
Crown Castle maintained its outlook for full year 2024, seeing AFFO per share of $6.85 to $6.97.
Crown Castle shares fell 1% to close at $93.05 on Wednesday.
These analysts made changes to their price targets on Crown Castle following earnings announcement.
<ul>
<li>BMO Capital cut the price target on Crown Castle from $110 to $105. BMO Capital analyst Ari Klein maintained a Market Perform rating.</li>
<li>Scotiabank slashed the price target on Crown Castle from $133 to $118. Scotiabank analyst Maher Yaghi maintained a Sector Perform rating.</li>
</ul>
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Earnings

Markets

These Analysts Cut Their Forecasts On Crown Castle Following Q1 Results

Scotiabank analyst Maher Yaghi maintains Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) with a Sector Perform and lowers the price target from $133 to $118.

Scotiabank Maintains Sector Perform on Crown Castle, Lowers Price Target to $118

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Morgan Stanley raised the price target for United Airlines Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ual#NASDAQ">UAL</a>) from $75 to $80. Morgan Stanley analyst Ravi Shanker maintained an Overweight rating. United Airlines shares gained 17.5% to close at $48.74 on Wednesday. <a href="https://www.benzinga.com/quote/UAL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Loop Capital slashed the price target for BJ&#39;s Wholesale Club Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bj#NYSE">BJ</a>) from $85 to $80. Loop Capital analyst Laura Champine downgraded the stock from Buy to Hold. BJ&#39;s Wholesale Club shares fell 1.3% to close at $75.28 on Wednesday. <a href="https://www.benzinga.com/quote/BJ/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wedbush increased Cinemark Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cnk#NYSE">CNK</a>) price target from $20 to $23. Wedbush analyst Michael Pachter maintained an Outperform rating. Cinemark shares closed at $18.13 on Wednesday. <a href="https://www.benzinga.com/quote/CNK/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keefe, Bruyette &amp; Woods cut the price target for U.S. Bancorp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usb#NYSE">USB</a>) from $52 to $45. Keefe, Bruyette &amp; Woods analyst David Konrad downgraded the stock from Outperform to Market Perform. U.S. Bancorp shares fell 3.6% to close at $39.52 on Wednesday. <a href="https://www.benzinga.com/quote/USB/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank slashed Tesla, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) price target from $189 to $123. Deutsche Bank analyst Emmanuel Rosner downgraded the stock from Buy to Hold. Tesla shares fell 1.1% to close at $155.45 on Wednesday. <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities cut Knight-Swift Transportation Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/knx#NYSE">KNX</a>) price target from $58 to $54. B of A Securities analyst Ken Hoexter maintained a Buy rating. Knight-Swift Transportation shares fell 4.4% to close at $48.53 on Wednesday. <a href="https://www.benzinga.com/quote/KNX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>BMO Capital lowered the price target for Crown Castle Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cci#NYSE">CCI</a>) from $110 to $105. BMO Capital analyst Ari Klein maintained a Market Perform rating. Crown Castle shares fell 1% to close at $93.05 on Wednesday. <a href="https://www.benzinga.com/quote/CCI/analyst-ratings">See how other analysts view this stock.</a></li>
<li>DA Davidson raised Barnes Group Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/b#NYSE">B</a>) price target from $35 to $45. DA Davidson analyst Matt Summerville upgraded the stock from Neutral to Buy. Barnes shares fell 1.6% to close at $33.39 on Wednesday. <a href="https://www.benzinga.com/quote/B/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird boosted Cadence Design Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdns#NASDAQ">CDNS</a>) price target from $302 to $322. Baird analyst Joe Vruwink maintained an Outperform rating. Cadence Design shares fell 2.4% to close at $293.71 on Wednesday. <a href="https://www.benzinga.com/quote/CDNS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Guggenheim raised Vertex Pharmaceuticals Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vrtx#NASDAQ">VRTX</a>) price target from $445 to $450. Guggenheim analyst Debjit Chattopadhyay maintained a Buy rating. Vertex Pharmaceuticals shares fell 0.3% to close at $393.10 on Wednesday. <a href="https://www.benzinga.com/quote/VRTX/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
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Small Cap

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Tesla To $123? Here Are 10 Top Analyst Forecasts For Thursday

BMO Capital analyst Ari Klein maintains Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) with a Market Perform and lowers the price target from $110 to $105.

BMO Capital Maintains Market Perform on Crown Castle, Lowers Price Target to $105

General

Crown Castle shares are trading higher following a slight Q1 revenue beat and inline AFFO.

Guidance

Crown Castle Maintains Outlook For Full Year 2024; AFFO Per Share At $6.85-$6.97, Est $6.92

Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) reported quarterly AFFO of $1.72 per share, inline with analyst consensus estimate. This is a 9.95 percent decrease over earnings of $1.91 per share from the same period last year. The company reported quarterly sales of $1.64 billion which beat the analyst consensus estimate of $1.63 billion by 0.67 percent. This is a 7.45 percent decrease over sales of $1.77 billion the same period last year.

Crown Castle Q1 AFFO Per Share $1.72, Inline, Sales $1.64B Beat $1.63B Estimate

Crown Castle's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) short percent of float has fallen 5.38% since its last report. The company recently reported that it has 4.63 million shares sold short, which is 1.23% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.78 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Crown Castle Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713372323_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Crown Castle has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Crown Castle's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Crown Castle's peer group average for short interest as a percentage of float is 4.11%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(CCI) - Analyzing Crown Castle's Short Interest

<h3>Companies Reporting Before The Bell</h3>
&bull; ASML Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) is projected to report quarterly earnings at $3.43 per share on revenue of $6.13 billion.
&bull; VinFast Auto (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>) is expected to report earnings for its first quarter.
&bull; Prologis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>) is likely to report quarterly earnings at $1.28 per share on revenue of $1.86 billion.
&bull; Abbott Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) is estimated to report quarterly earnings at $0.96 per share on revenue of $9.89 billion.
&bull; First Horizon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>) is estimated to report quarterly earnings at $0.34 per share on revenue of $809.71 million.
&bull; U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) is projected to report quarterly earnings at $0.88 per share on revenue of $6.72 billion.
&bull; Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) is estimated to report quarterly earnings at $4.81 per share on revenue of $10.49 billion.
&bull; BankUnited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKU#NYSE">BKU</a>) is expected to report quarterly earnings at $0.60 per share on revenue of $240.01 million.
&bull; Citizens Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>) is projected to report quarterly earnings at $0.74 per share on revenue of $1.96 billion.
<h3>Companies Reporting After The Bell</h3>
&bull; Exela Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XELA#NASDAQ">XELA</a>) is likely to report earnings for its first quarter.
&bull; Home Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBCP#NASDAQ">HBCP</a>) is estimated to report quarterly earnings at $0.97 per share on revenue of $28.45 million.
&bull; Monarch Casino &amp; Resort (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCRI#NASDAQ">MCRI</a>) is expected to report quarterly earnings at $0.96 per share on revenue of $122.32 million.
&bull; Las Vegas Sands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>) is projected to report quarterly earnings at $0.62 per share on revenue of $2.94 billion.
&bull; Cohen &amp; Steers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNS#NYSE">CNS</a>) is estimated to report quarterly earnings at $0.71 per share on revenue of $127.43 million.
&bull; Kinder Morgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) is estimated to report quarterly earnings at $0.34 per share on revenue of $4.47 billion.
&bull; Brandywine Realty Tr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDN#NYSE">BDN</a>) is expected to report quarterly earnings at $0.24 per share on revenue of $129.70 million.
&bull; First Industrial Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FR#NYSE">FR</a>) is estimated to report quarterly earnings at $0.62 per share on revenue of $161.53 million.
&bull; Equifax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>) is expected to report quarterly earnings at $1.43 per share on revenue of $1.40 billion.
&bull; Alcoa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) is projected to report quarterly loss at $0.43 per share on revenue of $2.58 billion.
&bull; Rexford Industrial Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REXR#NYSE">REXR</a>) is likely to report quarterly earnings at $0.57 per share on revenue of $207.33 million.
&bull; Triumph Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TFIN#NASDAQ">TFIN</a>) is estimated to report quarterly earnings at $0.34 per share on revenue of $106.01 million.
&bull; SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) is projected to report quarterly earnings at $2.15 per share on revenue of $158.04 million.
&bull; Old Second Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSBC#NASDAQ">OSBC</a>) is likely to report quarterly earnings at $0.46 per share on revenue of $69.80 million.
&bull; Great Southern Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSBC#NASDAQ">GSBC</a>) is expected to report quarterly earnings at $1.04 per share on revenue of $47.52 million.
&bull; Synovus Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>) is likely to report quarterly earnings at $0.99 per share on revenue of $548.06 million.
&bull; F N B (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNB#NYSE">FNB</a>) is expected to report quarterly earnings at $0.34 per share on revenue of $407.30 million.
&bull; Liberty Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBRT#NYSE">LBRT</a>) is likely to report quarterly earnings at $0.56 per share on revenue of $1.09 billion.
&bull; Discover Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) is expected to report quarterly earnings at $2.99 per share on revenue of $4.05 billion.
&bull; Bank OZK (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OZK#NASDAQ">OZK</a>) is projected to report quarterly earnings at $1.46 per share on revenue of $397.07 million.
&bull; CSX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>) is projected to report quarterly earnings at $0.45 per share on revenue of $3.67 billion.
&bull; Wintrust Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTFC#NASDAQ">WTFC</a>) is estimated to report quarterly earnings at $2.44 per share on revenue of $579.20 million.
&bull; Banner (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BANR#NASDAQ">BANR</a>) is estimated to report quarterly earnings at $1.13 per share on revenue of $135.76 million.
&bull; Martin Midstream Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMLP#NASDAQ">MMLP</a>) is projected to report quarterly earnings at $0.07 per share on revenue of $197.40 million.
&bull; Crown Castle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) is estimated to report quarterly earnings at $1.71 per share on revenue of $1.63 billion.
&bull; Marten Transport (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRTN#NASDAQ">MRTN</a>) is likely to report quarterly earnings at $0.16 per share on revenue of $272.17 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For April 17, 2024

Analyst Ari Klein from BMO Capital maintained a Hold rating on Crown Castle (CCI – Research Report) and decreased the price target to $105.00 from ...

Crown Castle: A Hold Rating Amidst Mixed Financial Signals and Strategic Uncertainties

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In a report released today, Jonathan Petersen from Jefferies maintained a Buy rating on Crown Castle (CCI – Research Report), with a price target o...

Jefferies Sticks to Its Buy Rating for Crown Castle (CCI)

In a report released yesterday, Eric Luebchow from Wells Fargo maintained a Hold rating on Crown Castle (CCI – Research Report), with a price targe...

Wells Fargo Sticks to Its Hold Rating for Crown Castle (CCI)

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A Hawkish Pivot

It's Tower Time

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Press Releases

RESTORE VALUE NOW: CROWN CASTLE CO-FOUNDER TED B. MILLER FILES PRELIMINARY PROXY MATERIALS

Crown Castle Announces First Quarter 2024 Earnings Conference Call Details

Management

Crown Castle Appoints Tower Industry Veteran Steven J. Moskowitz as President and Chief Executive Officer

Crown Castle Highlights Actions Underway to Create Stronger and More Valuable Company

Ted B. Miller Statement on Crown Castle Appointment of Steven J. Moskowitz as President and Chief Executive Officer

Delaware Court of Chancery Grants Expedition and Discovery in Hearing on Company's Last-Minute Expansion of Board

Crown Castle Reports First Quarter 2024 Results and Maintains Outlook for Full Year 2024

Crown Castle Issues Statement Regarding Ted Miller's Latest Attempt to Disrupt the Company's Momentum

BOOTS CAPITAL HIGHLIGHTS CROWN CASTLE'S SIGNIFICANT DESTRUCTION OF SHAREHOLDER VALUE AND FAILED OPERATIONAL STRATEGY DUE TO INEFFECTIVE LEADERSHIP

Crown Castle Highlights Actions its Board Has Implemented to Successfully Strengthen Foundation and Position Company for Long-Term Value Creation