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

Shares of Crown Castle Inc. (NYSE:CCI) have been assigned a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. Twelve equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $116.87.

CCI has been the topic of several analyst reports. Barclays increased their target price on shares of Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Wells Fargo & Company raised their price target on Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. The Goldman Sachs Group boosted their target price on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their price objective on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Jefferies Financial Group boosted their price target on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new position in shares of Crown Castle during the third quarter worth $25,000. EntryPoint Capital LLC bought a new stake in shares of Crown Castle in the 1st quarter valued at $27,000. Asset Dedication LLC raised its stake in Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 167 shares during the last quarter. Beacon Capital Management LLC lifted its holdings in Crown Castle by 163.9% in the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 177 shares during the period. Finally, Rosenberg Matthew Hamilton lifted its stake in shares of Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 136 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Up 0.4 %

Shares of CCI opened at $106.69 on Monday. The business’s fifty day moving average price is $109.83 and its two-hundred day moving average price is $106.98. The firm has a market capitalization of $46.37 billion, a price-to-earnings ratio of 37.83 and a beta of 0.86. Crown Castle has a 52 week low of $92.48 and a 52 week high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

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

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.87%. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

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.