B of A Securities Downgrades Crown Castle

By 247patrick Updated Aug 11, 12:20PM EDT · Published Aug 11, 6:55AM EDT

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B of A Securities Downgrades Crown Castle — © SasinParaksa / iStock via Getty Images

Fintel reports that on August 10, 2023, B of A Securities downgraded their outlook for Crown Castle (NYSE:CCI) from Buy to Neutral.

Analyst Price Forecast Suggests 25.80% Upside

As of August 2, 2023, the average one-year price target for Crown Castle is 131.70. The forecasts range from a low of 91.91 to a high of $170.10. The average price target represents an increase of 25.80% from its latest reported closing price of 104.69.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Crown Castle is 7,280MM, an increase of 1.82%. The projected annual non-GAAP EPS is 3.82.

What is the Fund Sentiment?

There are 2139 funds or institutions reporting positions in Crown Castle. This is a decrease of 88 owner(s) or 3.95% in the last quarter. Average portfolio weight of all funds dedicated to CCI is 0.50%, a decrease of 11.28%. Total shares owned by institutions decreased in the last three months by 1.06% to 453,124K shares. The put/call ratio of CCI is 0.58, indicating a bullish outlook.

What are Other Shareholders Doing?

VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 19,031K shares representing 4.39% ownership of the company. In it’s prior filing, the firm reported owning 19,312K shares, representing a decrease of 1.47%. The firm decreased its portfolio allocation in CCI by 9.25% over the last quarter.

Capital International Investors holds 17,843K shares representing 4.11% ownership of the company. In it’s prior filing, the firm reported owning 17,838K shares, representing an increase of 0.03%. The firm decreased its portfolio allocation in CCI by 5.47% over the last quarter.

Bank Of America holds 16,066K shares representing 3.70% ownership of the company. In it’s prior filing, the firm reported owning 14,280K shares, representing an increase of 11.12%. The firm increased its portfolio allocation in CCI by 0.11% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 13,409K shares representing 3.09% ownership of the company. In it’s prior filing, the firm reported owning 13,166K shares, representing an increase of 1.82%. The firm decreased its portfolio allocation in CCI by 7.20% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 10,104K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 10,011K shares, representing an increase of 0.92%. The firm decreased its portfolio allocation in CCI by 7.65% over the last quarter.

Crown Castle Background Information
(This description is provided by the company.)

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.

This article originally appeared on Fintel