Crown Castle (NYSE:CCI) Given New $109.00 Price Target at Royal Bank of Canada

Crown Castle (NYSE:CCI) had its price objective hoisted by Royal Bank of Canada from $104.00 to $109.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group increased their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. BMO Capital Markets lifted their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. Bank of America upped their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their target price on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, TD Cowen cut their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Crown Castle has an average rating of “Hold” and a consensus price target of $116.80.

Crown Castle Stock Up 1.1 %

CCI stock opened at $107.81 on Monday. The company has a market cap of $46.85 billion, a price-to-earnings ratio of 38.23 and a beta of 0.85. The company has a fifty day moving average price of $113.93 and a 200 day moving average price of $105.65. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. Crown Castle has a 12 month low of $90.81 and a 12 month high of $120.92.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the firm posted $1.77 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Sell-side analysts expect that Crown Castle will post 6.65 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Pinnacle Bancorp Inc. increased its holdings in Crown Castle by 13.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 90 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in shares of Crown Castle by 2.4% during the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 91 shares in the last quarter. Prosperity Consulting Group LLC raised its position in shares of Crown Castle by 4.4% during the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 95 shares during the last quarter. True North Advisors LLC raised its position in shares of Crown Castle by 4.2% during the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC lifted its stake in Crown Castle by 0.5% in the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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.