Crown Castle (NYSE:CCI) Price Target Raised to $112.00

Crown Castle (NYSE:CCI) had its price objective boosted by Barclays from $111.00 to $112.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Several other research firms have also issued reports on CCI. Bank of America lowered their target price on shares of Crown Castle from $120.00 to $105.00 and set a neutral rating for the company in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Crown Castle from $110.00 to $109.00 and set a hold rating for the company in a report on Monday, April 22nd. Royal Bank of Canada lifted their target price on shares of Crown Castle from $92.00 to $109.00 and gave the company a sector perform rating in a report on Wednesday, February 21st. BMO Capital Markets lowered their target price on shares of Crown Castle from $110.00 to $105.00 and set a market perform rating for the company in a report on Thursday, April 18th. Finally, Wells Fargo & Company lowered their target price on shares of Crown Castle from $115.00 to $100.00 and set an equal weight rating for the company in a report on Friday, April 19th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $113.29.

Crown Castle Stock Performance

Crown Castle stock opened at $93.57 on Tuesday. The stock’s 50 day simple moving average is $103.65 and its two-hundred day simple moving average is $105.25. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42. The stock has a market cap of $40.66 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 2.54 and a beta of 0.73. Crown Castle has a fifty-two week low of $84.72 and a fifty-two week high of $123.79.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.92). The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business’s revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 earnings per share. As a group, analysts expect that Crown Castle will post 6.59 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $1.565 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.69%. Crown Castle’s dividend payout ratio is presently 195.63%.

Institutional Investors Weigh In On Crown Castle

Hedge funds have recently added to or reduced their stakes in the stock. Ables Iannone Moore & Associates Inc. purchased a new stake in Crown Castle during the 4th quarter valued at $25,000. Rational Advisors LLC purchased a new stake in Crown Castle during the 1st quarter valued at $27,000. Richardson Financial Services Inc. purchased a new stake in Crown Castle during the 4th quarter valued at $30,000. Gables Capital Management Inc. raised its stake in Crown Castle by 164.0% during the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 164 shares during the last quarter. Finally, Riverview Trust Co raised its stake in Crown Castle by 108.5% during the 3rd quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 140 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

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.