Crown Castle Inc. (NYSE:CCI) Receives $113.00 Consensus Target Price from Analysts

Crown Castle Inc. (NYSE:CCI) has been assigned an average recommendation of “Hold” from the fourteen brokerages that are currently covering the firm, MarketBeat reports. One equities research 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 1-year price target among brokers that have updated their coverage on the stock in the last year is $113.00.

CCI has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. TD Cowen reduced their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised their price target on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, UBS Group upped their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th.

Institutional Investors Weigh In On Crown Castle

Several institutional investors have recently added to or reduced their stakes in CCI. Nordea Investment Management AB lifted its stake in shares of Crown Castle by 29.4% during the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after buying an additional 282,821 shares in the last quarter. Van ECK Associates Corp raised its holdings in Crown Castle by 24.7% during the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after acquiring an additional 31,319 shares during the period. Oak Thistle LLC purchased a new stake in shares of Crown Castle during the fourth quarter worth $1,231,000. Fisher Asset Management LLC boosted its holdings in shares of Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after acquiring an additional 203,442 shares during the period. Finally, Citizens Business Bank purchased a new position in shares of Crown Castle in the third quarter valued at $620,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $91.03 on Tuesday. The stock’s 50 day moving average is $96.66 and its 200-day moving average is $105.54. Crown Castle has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market capitalization of $39.56 billion, a price-to-earnings ratio of 32.28 and a beta of 0.87.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the business posted $1.77 earnings per share. The firm’s quarterly revenue was down .9% on a year-over-year basis. Sell-side analysts forecast that Crown Castle will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.88%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

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.