Crown Castle (NYSE:CCI) PT Raised to $105.00

Crown Castle (NYSE:CCI) had its target price boosted by Wells Fargo & Company from $100.00 to $105.00 in a report issued on Friday, Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the company. TD Cowen lowered their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group raised their price target on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday. Royal Bank of Canada boosted their price objective on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. BMO Capital Markets raised their target price on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Crown Castle has an average rating of “Hold” and a consensus target price of $116.47.

Crown Castle Stock Up 0.6 %

NYSE:CCI opened at $112.38 on Friday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.43 and a current ratio of 0.54. The firm has a market cap of $48.84 billion, a P/E ratio of 39.85 and a beta of 0.85. Crown Castle has a fifty-two week low of $84.72 and a fifty-two week high of $120.92. The firm has a 50-day simple moving average of $114.03 and a two-hundred day simple moving average of $105.14.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results 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 net margin of 18.59% and a return on equity of 20.98%. Crown Castle’s revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $1.77 EPS. Analysts predict that Crown Castle will post 6.65 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.57%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Insider Buying and Selling at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the transaction, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Crown Castle

Several institutional investors and hedge funds have recently modified their holdings of CCI. Allspring Global Investments Holdings LLC boosted its holdings in Crown Castle by 0.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 51,962 shares of the real estate investment trust’s stock worth $6,164,000 after buying an additional 426 shares during the period. OLD National Bancorp IN lifted its position in shares of Crown Castle by 6.3% in the third quarter. OLD National Bancorp IN now owns 96,842 shares of the real estate investment trust’s stock valued at $11,488,000 after acquiring an additional 5,724 shares in the last quarter. New Century Financial Group LLC boosted its stake in shares of Crown Castle by 4.8% in the third quarter. New Century Financial Group LLC now owns 2,645 shares of the real estate investment trust’s stock worth $314,000 after acquiring an additional 122 shares during the period. Ferguson Wellman Capital Management Inc. boosted its stake in shares of Crown Castle by 83.5% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 384,805 shares of the real estate investment trust’s stock worth $45,649,000 after acquiring an additional 175,086 shares during the period. Finally, Friedenthal Financial purchased a new stake in shares of Crown Castle during the third quarter worth about $50,000. 90.77% of the stock is currently owned by institutional investors.

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.