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

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

Other equities analysts have also issued reports about the stock. Wells Fargo & Company increased their price target on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Citigroup set a $128.00 price objective on Crown Castle in a report on Thursday, October 17th. Jefferies Financial Group lifted their target price on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Finally, Bank of America increased their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $116.87.

Crown Castle Stock Performance

NYSE CCI opened at $108.36 on Friday. The stock has a 50-day moving average of $113.69 and a two-hundred day moving average of $106.01. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. Crown Castle has a 1-year low of $92.48 and a 1-year high of $120.92. The company has a market cap of $47.09 billion, a P/E ratio of 38.43 and a beta of 0.86.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the business posted $1.77 earnings per share. As a group, analysts anticipate that Crown Castle will post 6.65 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $1.565 per share. The ex-dividend date 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 Trading of Crown Castle

Several large investors have recently bought and sold shares of CCI. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle in the third quarter valued at $25,000. EntryPoint Capital LLC purchased a new stake in shares of Crown Castle during the 1st quarter valued at about $27,000. Rosenberg Matthew Hamilton lifted its position in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares in the last quarter. Asset Dedication LLC lifted its holdings in Crown Castle by 159.0% in 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 in the last quarter. Finally, Beacon Capital Management LLC lifted its stake in shares of 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 acquiring an additional 177 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.