Crown Castle (NYSE:CCI) Price Target Raised to $117.00

Crown Castle (NYSE:CCI) had its price target raised by Barclays from $116.00 to $117.00 in a research report report published on Friday, Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. The Goldman Sachs Group boosted their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. BMO Capital Markets lifted their price target 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. UBS Group upped their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their target price on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $116.87.

Crown Castle Price Performance

Shares of CCI opened at $108.36 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 company has a 50 day moving average price of $113.69 and a 200-day moving average price of $106.01. Crown Castle has a fifty-two week low of $92.48 and a fifty-two week high of $120.92. The stock has a market capitalization of $47.09 billion, a PE ratio of 38.43 and a beta of 0.86.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 EPS. Equities 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. Stockholders of record on Friday, September 13th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.78%. Crown Castle’s payout ratio is 221.99%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CCI. Versor Investments LP purchased a new stake in Crown Castle in the 3rd quarter worth approximately $455,000. Core Wealth Partners LLC acquired a new position in shares of Crown Castle in the 3rd quarter valued at $241,000. Catalytic Wealth RIA LLC boosted its holdings in Crown Castle by 20.7% during the third quarter. Catalytic Wealth RIA LLC now owns 6,964 shares of the real estate investment trust’s stock worth $826,000 after buying an additional 1,192 shares in the last quarter. Kennebec Savings Bank acquired a new stake in Crown Castle during the third quarter valued at $633,000. Finally, Ashton Thomas Securities LLC purchased a new position in Crown Castle in the third quarter valued at $90,000. 90.77% of the stock is currently 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.