Crown Castle (NYSE:CCI - Free Report) had its price target boosted by Barclays from $116.00 to $117.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an equal weight rating on the real estate investment trust's stock.
CCI has been the subject of several other research reports. The Goldman Sachs Group increased their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. Bank of America raised their target price on Crown Castle from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 13th. BMO Capital Markets upped their price target on Crown Castle from $105.00 to $108.00 and gave the company a "market perform" rating in a research report on Thursday, July 18th. Jefferies Financial Group upped their target price on shares of Crown Castle from $123.00 to $127.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Finally, Citigroup set a $128.00 price target on shares of Crown Castle in a report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of "Hold" and an average price target of $116.87.
Read Our Latest Stock Report on Crown Castle
Crown Castle Stock Down 0.8 %
NYSE CCI traded down $0.86 during trading on Friday, hitting $106.63. 1,006,178 shares of the company traded hands, compared to its average volume of 2,616,536. The company has a market capitalization of $46.34 billion, a P/E ratio of 38.29 and a beta of 0.85. The business has a fifty day simple moving average of $113.89 and a 200 day simple moving average of $105.67. Crown Castle has a 12 month low of $92.48 and a 12 month high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43.
Crown Castle (NYSE:CCI - Get Free Report) last announced its 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). The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.77 EPS. As a group, sell-side analysts predict that Crown Castle will post 6.65 EPS for the current year.
Crown Castle Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.87%. Crown Castle's dividend payout ratio is currently 221.99%.
Hedge Funds Weigh In On Crown Castle
Several hedge funds have recently added to or reduced their stakes in the stock. Norden Group LLC acquired a new stake in Crown Castle in the first quarter worth $1,804,000. J.W. Cole Advisors Inc. lifted its holdings in shares of Crown Castle by 4.0% during the 1st quarter. J.W. Cole Advisors Inc. now owns 3,866 shares of the real estate investment trust's stock valued at $409,000 after purchasing an additional 148 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Crown Castle by 39.2% in the 1st quarter. Private Advisor Group LLC now owns 29,596 shares of the real estate investment trust's stock valued at $3,132,000 after purchasing an additional 8,328 shares during the period. Prosperity Consulting Group LLC increased its stake in Crown Castle by 16.8% during the 1st quarter. Prosperity Consulting Group LLC now owns 2,167 shares of the real estate investment trust's stock worth $229,000 after purchasing an additional 312 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in Crown Castle by 10.1% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,680 shares of the real estate investment trust's stock valued at $1,130,000 after buying an additional 979 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.
Crown Castle Company Profile
(
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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.
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