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

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

CCI has been the topic of a number of other research reports. Royal Bank of Canada raised their price target on Crown Castle from $92.00 to $109.00 and gave the stock a sector perform rating in a research report on Wednesday, February 21st. Jefferies Financial Group decreased their price target on Crown Castle from $126.00 to $123.00 and set a buy rating on the stock in a research report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft decreased their price target on Crown Castle from $110.00 to $109.00 and set a hold rating on the stock in a research report on Monday. Wells Fargo & Company decreased their price target on Crown Castle from $115.00 to $100.00 and set an equal weight rating on the stock in a research report on Friday, April 19th. Finally, Bank of America decreased their target price on Crown Castle from $120.00 to $105.00 and set a neutral rating on the stock in a research report on Friday, April 19th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $113.29.

Crown Castle Stock Down 1.3 %

CCI opened at $94.20 on Tuesday. Crown Castle has a fifty-two week low of $84.72 and a fifty-two week high of $123.79. 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 company has a market capitalization of $40.93 billion, a P/E ratio of 29.44, a P/E/G ratio of 2.54 and a beta of 0.73. The stock has a fifty day moving average of $103.94 and a 200-day moving average of $105.25.

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

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $1.565 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.65%. Crown Castle’s dividend payout ratio (DPR) is currently 195.63%.

Institutional Investors Weigh In On Crown Castle

Several institutional investors have recently bought and sold shares of the stock. Morgan Stanley grew its stake in Crown Castle by 8.9% in the 3rd quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after purchasing an additional 1,064,382 shares during the period. FMR LLC grew its stake in Crown Castle by 14.3% in the 3rd quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock valued at $1,098,526,000 after purchasing an additional 1,496,330 shares during the period. Cohen & Steers Inc. grew its stake in Crown Castle by 7.9% in the 4th quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock valued at $1,310,559,000 after purchasing an additional 834,198 shares during the period. Wellington Management Group LLP grew its stake in Crown Castle by 11.1% in the 4th quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock valued at $1,297,147,000 after purchasing an additional 1,126,394 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Crown Castle by 42.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after purchasing an additional 2,121,603 shares during the period. Institutional investors own 90.77% of the company’s stock.

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.