Brokerages Set Crown Castle Inc. (NYSE:CCI) Price Target at $116.87

Crown Castle Inc. (NYSE:CCI) has been given an average rating of “Hold” by the fifteen brokerages that are currently covering the company, MarketBeat reports. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $116.87.

CCI has been the subject of a number of recent research reports. Citigroup set a $128.00 price objective on Crown Castle in a report on Thursday, October 17th. The Goldman Sachs Group upped their price target on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Barclays increased their price target on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. UBS Group lifted their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Bank of America increased their target price on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th.

Crown Castle Stock Performance

NYSE CCI opened at $106.25 on Monday. The company has a market cap of $46.18 billion, a P/E ratio of 37.68 and a beta of 0.86. The company has a fifty day simple moving average of $109.48 and a 200 day simple moving average of $107.02. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle has a 12-month low of $92.48 and a 12-month high of $120.92.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.77 earnings per share. Sell-side analysts predict that Crown Castle will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 5.89%. Crown Castle’s payout ratio is 221.99%.

Institutional Trading of Crown Castle

A number of large investors have recently bought and sold shares of the company. Quent Capital LLC lifted its holdings in Crown Castle by 10.9% during the first quarter. Quent Capital LLC now owns 2,346 shares of the real estate investment trust’s stock valued at $248,000 after purchasing an additional 231 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Crown Castle during the 1st quarter valued at approximately $27,000. CreativeOne Wealth LLC bought a new position in Crown Castle in the 1st quarter worth approximately $209,000. BOKF NA grew its stake in Crown Castle by 25.6% in the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after buying an additional 815 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Crown Castle by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,783,020 shares of the real estate investment trust’s stock valued at $188,698,000 after acquiring an additional 95,711 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

About Crown Castle

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.