Analysts Set Crown Castle Inc. (NYSE:CCI) Price Target at $117.00

Crown Castle Inc. (NYSE:CCI) has been given a consensus recommendation of “Hold” by the fourteen analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $117.00.

A number of equities research analysts have weighed in on CCI shares. Royal Bank of Canada raised their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Barclays lifted their price objective on shares of Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Citigroup set a $128.00 target price on Crown Castle in a report on Thursday, October 17th. The Goldman Sachs Group upped their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Finally, TD Cowen cut their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th.

Hedge Funds Weigh In On Crown Castle

Hedge funds have recently modified their holdings of the stock. Pinnacle Bancorp Inc. boosted its stake in Crown Castle by 13.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 90 shares during the period. Pathway Financial Advisers LLC grew its holdings in shares of Crown Castle by 2.4% during the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after buying an additional 91 shares in the last quarter. Prosperity Consulting Group LLC raised its position in Crown Castle by 4.4% during the second quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 95 shares during the period. True North Advisors LLC lifted its stake in Crown Castle by 4.2% in the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 95 shares in the last quarter. Finally, Granite Investment Partners LLC boosted its position in Crown Castle by 0.5% during the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock worth $1,899,000 after acquiring an additional 100 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

CCI stock opened at $91.00 on Friday. The stock has a 50-day simple moving average of $104.33 and a 200-day simple moving average of $106.81. The firm has a market cap of $39.55 billion, a P/E ratio of 32.27 and a beta of 0.86. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle has a 1 year low of $89.49 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI) last announced its 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the company posted $1.77 earnings per share. Crown Castle’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities analysts predict that Crown Castle will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.88%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

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.