Brokerages Set Crown Castle Inc. (NYSE:CCI) Target Price at $116.87

Shares of Crown Castle Inc. (NYSE:CCI) have received an average rating of “Hold” from the fifteen analysts that are currently covering the firm, Marketbeat Ratings reports. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $116.87.

CCI has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Royal Bank of Canada raised their target price on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Bank of America lifted their target price on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. UBS Group boosted their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group increased their target price on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th.

Hedge Funds Weigh In On Crown Castle

A number of hedge funds have recently made changes to their positions in CCI. Catalyst Capital Advisors LLC purchased a new position in shares of Crown Castle during the 3rd quarter valued at approximately $25,000. EntryPoint Capital LLC bought a new position in Crown Castle in the 1st quarter worth approximately $27,000. Asset Dedication LLC increased its holdings in shares of Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 167 shares during the period. Beacon Capital Management LLC lifted its stake in shares of Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 177 shares during the period. Finally, Rosenberg Matthew Hamilton lifted its position in Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 0.4 %

CCI stock opened at $106.25 on Monday. The firm has a fifty day moving average price of $109.48 and a 200 day moving average price of $107.09. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $46.18 billion, a PE ratio of 37.68 and a beta of 0.86. Crown Castle has a fifty-two week low of $92.48 and a fifty-two week high of $120.92.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the business posted $1.77 earnings per share. Crown Castle’s revenue was down .9% on a year-over-year basis. Sell-side analysts anticipate that Crown Castle will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $1.565 per share. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.89%. Crown Castle’s payout ratio is 221.99%.

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.