Crown Castle Inc. (NYSE:CCI) Receives $113.53 Consensus Price Target from Brokerages

Crown Castle Inc. (NYSE:CCI) has been given a consensus recommendation of “Hold” by the sixteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $113.53.

Several brokerages have recently weighed in on CCI. BMO Capital Markets increased their target price on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. The Goldman Sachs Group began coverage on shares of Crown Castle in a research note on Monday, July 1st. They issued a “neutral” rating and a $104.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Bank of America raised their price target on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, Raymond James reissued an “outperform” rating and set a $126.00 target price (up from $124.00) on shares of Crown Castle in a research note on Friday, June 14th.

Insiders Place Their Bets

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s 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 sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Crown Castle

A number of hedge funds and other institutional investors have recently bought and sold shares of CCI. Ables Iannone Moore & Associates Inc. purchased a new position in Crown Castle in the fourth quarter worth $25,000. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle in the 1st quarter worth $27,000. Asset Dedication LLC grew its stake in Crown Castle by 159.0% during the 2nd 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. Richardson Financial Services Inc. acquired a new position in Crown Castle during the 4th quarter valued at about $30,000. Finally, Beacon Capital Management LLC raised its stake 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 last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 0.2 %

Shares of NYSE CCI opened at $118.84 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle has a 12-month low of $84.72 and a 12-month high of $120.31. The firm’s 50-day moving average price is $109.77 and its 200-day moving average price is $103.83. The stock has a market capitalization of $51.64 billion, a price-to-earnings ratio of 37.14 and a beta of 0.85.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 earnings per share. On average, equities research analysts anticipate that Crown Castle will post 6.64 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.27%. The ex-dividend date is Friday, September 13th. Crown Castle’s payout ratio is 195.63%.

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.