Crown Castle Inc. (NYSE:CCI) Receives $116.87 Average Price Target from Brokerages

Shares of Crown Castle Inc. (NYSE:CCI) have been given a consensus recommendation of “Hold” by the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Twelve research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $116.87.

Several analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. The Goldman Sachs Group upped their price objective 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 target price on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Barclays boosted their price target on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada lifted their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th.

Institutional Trading of Crown Castle

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Catalyst Capital Advisors LLC bought a new position in Crown Castle in the 3rd quarter valued at $25,000. EntryPoint Capital LLC acquired a new position in shares of Crown Castle during the first quarter valued at $27,000. Asset Dedication LLC boosted its holdings in Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares during the last quarter. Beacon Capital Management LLC increased its position 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 worth $30,000 after purchasing an additional 177 shares during the period. Finally, Rosenberg Matthew Hamilton boosted 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 last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $106.25 on Monday. The firm has a market cap of $46.18 billion, a price-to-earnings ratio of 37.68 and a beta of 0.86. 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 1 year low of $92.48 and a 1 year high of $120.92. The business has a fifty day simple moving average of $109.48 and a 200 day simple moving average of $107.09.

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

Crown Castle Announces Dividend

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

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.