Brokerages Set Crown Castle Inc. (NYSE:CCI) PT at $113.53

Crown Castle Inc. (NYSE:CCI) has received an average recommendation of “Hold” from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $113.53.

CCI has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on Crown Castle in a report on Monday, July 1st. They issued a “neutral” rating and a $104.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price target on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. BMO Capital Markets raised their price objective on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. TD Cowen raised their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Raymond James restated an “outperform” rating and issued a $126.00 price objective (up from $124.00) on shares of Crown Castle in a research note on Friday, June 14th.

Crown Castle Price Performance

Shares of NYSE CCI opened at $112.40 on Friday. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $48.85 billion, a PE ratio of 35.13 and a beta of 0.83. The business has a 50-day simple moving average of $104.09 and a two-hundred day simple moving average of $103.03. Crown Castle has a fifty-two week low of $84.72 and a fifty-two week high of $119.50.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The company’s quarterly revenue was down 12.9% on a year-over-year basis. During the same quarter last year, the company earned $2.05 earnings per share. As a group, equities analysts expect that Crown Castle will post 6.64 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.57%. The ex-dividend date of this dividend is Friday, September 13th. Crown Castle’s dividend payout ratio is currently 195.63%.

Insider Activity at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the completion of the transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at $7,792,172.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Crown Castle during the 4th quarter worth approximately $25,000. Rational Advisors LLC acquired a new position in shares of Crown Castle during the 1st quarter worth approximately $27,000. EntryPoint Capital LLC acquired a new position in shares of Crown Castle during the 1st quarter worth approximately $27,000. Richardson Financial Services Inc. acquired a new position in shares of Crown Castle during the 4th quarter worth approximately $30,000. Finally, Gables Capital Management Inc. raised its stake in shares of 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 worth $30,000 after buying an additional 164 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

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.