CROWN CASTLE IN/SH SH (NYSE:CCI) had its price target decreased by Citigroup from $144.00 to $138.00 in a report released on Monday morning, BenzingaRatingsTable reports. Citigroup currently has a neutral rating on the real estate investment trust’s stock.
A number of other analysts have also weighed in on the stock. Morgan Stanley raised their price target on shares of CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an overweight rating in a report on Monday, May 20th. New Street Research lowered shares of CROWN CASTLE IN/SH SH from a neutral rating to a sell rating and set a $113.00 price target for the company. in a report on Thursday, June 13th. Bank of America reissued a buy rating and issued a $151.00 price target (up previously from $133.00) on shares of CROWN CASTLE IN/SH SH in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised shares of CROWN CASTLE IN/SH SH from a neutral rating to an overweight rating and raised their price target for the company from $125.00 to $150.00 in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $129.36.
Shares of NYSE CCI traded up $0.32 during mid-day trading on Monday, hitting $138.98. 98,811 shares of the stock were exchanged, compared to its average volume of 1,844,787. The company has a market cap of $57.60 billion, a P/E ratio of 25.36, a PEG ratio of 1.64 and a beta of 0.27. The stock’s fifty day simple moving average is $140.81 and its two-hundred day simple moving average is $130.99. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.76 and a current ratio of 0.76. CROWN CASTLE IN/SH SH has a twelve month low of $103.21 and a twelve month high of $149.47.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $1.125 per share. This represents a $4.50 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Thursday, September 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is presently 82.12%.
In related news, VP Robert Sean Collins sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $143.34, for a total transaction of $143,340.00. Following the completion of the transaction, the vice president now directly owns 616 shares in the company, valued at approximately $88,297.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director J Landis Martin acquired 16,300 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were bought at an average price of $127.33 per share, with a total value of $2,075,479.00. Following the completion of the transaction, the director now owns 130,617 shares in the company, valued at $16,631,462.61. The disclosure for this purchase can be found here. Corporate insiders own 0.41% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CCI. Ropes Wealth Advisors LLC acquired a new position in CROWN CASTLE IN/SH SH during the second quarter worth $25,000. Kavar Capital Partners LLC acquired a new position in CROWN CASTLE IN/SH SH during the second quarter worth $26,000. Manchester Capital Management LLC acquired a new position in CROWN CASTLE IN/SH SH during the second quarter worth $26,000. Northern Oak Wealth Management Inc. acquired a new position in CROWN CASTLE IN/SH SH during the second quarter worth $31,000. Finally, Hanson McClain Inc. raised its holdings in CROWN CASTLE IN/SH SH by 75.2% during the second quarter. Hanson McClain Inc. now owns 247 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 106 shares during the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.
CROWN CASTLE IN/SH SH Company Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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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