Analysts Set Crown Castle International Corp. (REIT) (NYSE:CCI) Price Target at $196.27

Shares of Crown Castle International Corp. (REIT) (NYSE:CCI) have received a consensus recommendation of “Buy” from the fourteen research firms that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $197.09.

CCI has been the subject of a number of analyst reports. Citigroup lowered Crown Castle International from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 13th. Oppenheimer downgraded Crown Castle International from an “outperform” rating to a “market perform” rating and set a $205.00 price objective for the company. in a research note on Friday. Credit Suisse Group reduced their price objective on Crown Castle International from $193.00 to $192.00 and set a “neutral” rating for the company in a research note on Friday, July 23rd. KeyCorp upped their price objective on Crown Castle International from $207.00 to $224.00 and gave the company an “overweight” rating in a research note on Monday, July 19th. They noted that the move was a valuation call. Finally, Morgan Stanley upped their price objective on Crown Castle International from $204.00 to $213.00 and gave the company an “overweight” rating in a research note on Friday. They noted that the move was a valuation call.

In other news, Director J Landis Martin acquired 4,200 shares of the firm’s stock in a transaction that occurred on Monday, July 26th. The shares were bought at an average cost of $191.52 per share, with a total value of $804,384.00. Following the acquisition, the director now owns 141,755 shares in the company, valued at approximately $27,148,917.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Christopher Levendos sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 26th. The shares were sold at an average price of $191.52, for a total value of $766,080.00. Following the transaction, the chief operating officer now directly owns 8,246 shares in the company, valued at $1,579,273.92. The disclosure for this sale can be found here. Company insiders own 0.45% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP bought a new stake in shares of Crown Castle International in the 1st quarter worth approximately $118,000. Regentatlantic Capital LLC grew its position in shares of Crown Castle International by 58.8% in the 1st quarter. Regentatlantic Capital LLC now owns 3,024 shares of the real estate investment trust’s stock worth $520,000 after buying an additional 1,120 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new stake in shares of Crown Castle International in the 1st quarter worth approximately $163,000. Greenleaf Trust grew its position in shares of Crown Castle International by 11.4% in the 1st quarter. Greenleaf Trust now owns 6,868 shares of the real estate investment trust’s stock worth $1,182,000 after buying an additional 702 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Crown Castle International by 8.0% during the first quarter. IFP Advisors Inc now owns 6,701 shares of the real estate investment trust’s stock valued at $1,158,000 after purchasing an additional 499 shares in the last quarter. Institutional investors and hedge funds own 90.06% of the company’s stock.

Shares of NYSE:CCI traded down $0.58 during trading on Tuesday, reaching $189.25. 1,607,803 shares of the stock were exchanged, compared to its average volume of 1,808,732. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.66 and a quick ratio of 0.66. Crown Castle International has a 1-year low of $146.15 and a 1-year high of $204.62. The stock has a fifty day moving average of $195.64 and a two-hundred day moving average of $186.16. The firm has a market cap of $81.79 billion, a price-to-earnings ratio of 72.79, a price-to-earnings-growth ratio of 1.37 and a beta of 0.37.

Crown Castle International (NYSE:CCI) last issued its earnings results on Tuesday, July 20th. The real estate investment trust reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.08. Crown Castle International had a return on equity of 12.30% and a net margin of 18.62%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the firm earned $0.41 earnings per share. Crown Castle International’s revenue for the quarter was up 9.9% on a year-over-year basis. Sell-side analysts forecast that Crown Castle International will post 6.55 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 15th will be issued a $1.33 dividend. The ex-dividend date is Tuesday, September 14th. This represents a $5.32 annualized dividend and a dividend yield of 2.81%. Crown Castle International’s payout ratio is currently 78.47%.

Crown Castle International Company Profile

Crown Castle International Corp. is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the following segments: Towers and Fiber. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.

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Analyst Recommendations for Crown Castle International (NYSE:CCI)

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