Analysts Set Crown Castle Inc. (NYSE:CCI) Price Target at $195.20

Crown Castle Inc. (NYSE:CCIGet Rating) has been assigned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $195.20.

Several equities analysts have recently issued reports on the company. Citigroup lowered their price target on Crown Castle from $204.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, July 11th. KeyCorp lowered their price target on Crown Castle from $219.00 to $205.00 and set an “overweight” rating for the company in a research report on Friday, July 1st. Deutsche Bank Aktiengesellschaft boosted their target price on Crown Castle from $183.00 to $185.00 in a research report on Friday, July 22nd. Raymond James decreased their target price on Crown Castle from $206.00 to $201.00 in a research report on Friday, July 22nd. Finally, Morgan Stanley decreased their target price on Crown Castle from $190.00 to $188.00 and set an “overweight” rating for the company in a research report on Friday.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $163.42 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 2.70. The firm has a market capitalization of $70.77 billion, a P/E ratio of 45.85 and a beta of 0.60. The business has a fifty day simple moving average of $174.61 and a two-hundred day simple moving average of $178.11. Crown Castle has a 12 month low of $153.70 and a 12 month high of $209.87.

Crown Castle (NYSE:CCIGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.97 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.74). The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Crown Castle had a net margin of 22.91% and a return on equity of 18.93%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.71 EPS. On average, equities analysts forecast that Crown Castle will post 7.03 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $5.88 annualized dividend and a yield of 3.60%. Crown Castle’s payout ratio is 165.17%.

Insiders Place Their Bets

In other Crown Castle news, Director Kevin A. Stephens purchased 699 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was acquired at an average cost of $173.60 per share, for a total transaction of $121,346.40. Following the purchase, the director now directly owns 10,703 shares of the company’s stock, valued at approximately $1,858,040.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.

Institutional Trading of Crown Castle

Hedge funds have recently modified their holdings of the company. North Star Investment Management Corp. purchased a new stake in shares of Crown Castle during the 1st quarter worth approximately $25,000. IAG Wealth Partners LLC raised its holdings in shares of Crown Castle by 277.8% during the 4th quarter. IAG Wealth Partners LLC now owns 136 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of Crown Castle during the 1st quarter worth approximately $28,000. Blume Capital Management Inc. purchased a new stake in shares of Crown Castle during the 1st quarter worth approximately $29,000. Finally, HWG Holdings LP purchased a new stake in shares of Crown Castle during the 4th quarter worth approximately $34,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

About Crown Castle

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Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.

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