Crown Castle (NYSE:CCI) Price Target Raised to $100.00 at BMO Capital Markets

Crown Castle (NYSE:CCI) had its target price lifted by BMO Capital Markets from $91.00 to $100.00 in a report issued on Friday morning,MarketScreener reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Crown Castle from $110.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. Zacks Research raised Crown Castle from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. New Street Research cut Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price target for the company. in a report on Monday, January 5th. Barclays reduced their price objective on Crown Castle from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 17th. Finally, Royal Bank Of Canada lowered their target price on Crown Castle from $112.00 to $110.00 and set an “outperform” rating for the company in a research note on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.86.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $88.72 on Friday. Crown Castle has a 52-week low of $75.96 and a 52-week high of $115.76. The business has a fifty day moving average of $86.05 and a two-hundred day moving average of $88.88. The stock has a market cap of $38.72 billion, a PE ratio of 87.84, a PEG ratio of 0.44 and a beta of 0.94.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a dividend of $1.0625 per share. The ex-dividend date was Friday, March 13th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.8%. Crown Castle’s payout ratio is presently 420.79%.

Insider Buying and Selling at Crown Castle

In related news, VP Robert Sean Collins sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $87.49, for a total value of $262,470.00. Following the transaction, the vice president owned 5,800 shares in the company, valued at $507,442. This trade represents a 34.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total value of $401,481.00. Following the sale, the executive vice president directly owned 25,183 shares of the company’s stock, valued at $2,174,300.22. This represents a 15.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Crown Castle

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. increased its position in shares of Crown Castle by 24.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 599 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 116 shares in the last quarter. Choreo LLC lifted its holdings in Crown Castle by 1.1% during the third quarter. Choreo LLC now owns 11,021 shares of the real estate investment trust’s stock worth $1,063,000 after acquiring an additional 120 shares in the last quarter. United Asset Strategies Inc. grew its stake in Crown Castle by 2.5% in the fourth quarter. United Asset Strategies Inc. now owns 4,931 shares of the real estate investment trust’s stock valued at $438,000 after acquiring an additional 120 shares during the period. Golden State Equity Partners increased its holdings in shares of Crown Castle by 2.8% in the third quarter. Golden State Equity Partners now owns 4,567 shares of the real estate investment trust’s stock worth $441,000 after acquiring an additional 123 shares in the last quarter. Finally, Consolidated Portfolio Review Corp increased its holdings in shares of Crown Castle by 1.1% in the third quarter. Consolidated Portfolio Review Corp now owns 10,966 shares of the real estate investment trust’s stock worth $1,058,000 after acquiring an additional 123 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.