Morgan Stanley Increases CROWN CASTLE IN/SH SH (NYSE:CCI) Price Target to $149.00

CROWN CASTLE IN/SH SH (NYSE:CCI) had its price target lifted by Morgan Stanley from $138.00 to $149.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other analysts have also recently weighed in on CCI. Bank of America reaffirmed 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 research report on Wednesday, August 14th. Guggenheim set a $148.00 price target on CROWN CASTLE IN/SH SH and gave the stock a hold rating in a research report on Thursday, September 12th. Citigroup reduced their price target on CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a neutral rating for the company in a research report on Monday, September 9th. JPMorgan Chase & Co. raised CROWN CASTLE IN/SH SH from a neutral rating to an overweight rating and boosted their price target for the stock from $125.00 to $150.00 in a research report on Thursday, August 1st. Finally, New Street Research cut 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 research report on Thursday, June 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $131.83.

Shares of NYSE:CCI traded down $0.84 on Thursday, reaching $140.41. The company had a trading volume of 727,585 shares, compared to its average volume of 1,517,622. CROWN CASTLE IN/SH SH has a twelve month low of $103.21 and a twelve month high of $149.47. The stock has a 50-day moving average price of $142.00 and a 200 day moving average price of $131.68. The stock has a market capitalization of $58.37 billion, a P/E ratio of 25.62, a P/E/G ratio of 1.63 and a beta of 0.27. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.99.



CROWN CASTLE IN/SH SH (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.85). CROWN CASTLE IN/SH SH had a return on equity of 7.00% and a net margin of 14.62%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm earned $0.36 EPS. CROWN CASTLE IN/SH SH’s quarterly revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts predict that CROWN CASTLE IN/SH SH will post 5.64 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $1.125 per share. The ex-dividend date is Thursday, September 12th. This represents a $4.50 annualized dividend and a dividend yield of 3.21%. CROWN CASTLE IN/SH SH’s dividend payout ratio is presently 82.12%.

In other CROWN CASTLE IN/SH SH news, Director J Landis Martin acquired 16,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average price of $127.33 per share, with a total value of $2,075,479.00. Following the transaction, the director now owns 130,617 shares of the company’s stock, valued at $16,631,462.61. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert Sean Collins sold 1,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $143.34, for a total value of $143,340.00. Following the transaction, the vice president now owns 616 shares in the company, valued at $88,297.44. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System raised its holdings in CROWN CASTLE IN/SH SH by 22.6% in the 2nd quarter. California Public Employees Retirement System now owns 3,016,955 shares of the real estate investment trust’s stock valued at $393,260,000 after buying an additional 556,157 shares during the period. Commonwealth Bank of Australia grew its position in CROWN CASTLE IN/SH SH by 31.4% in the 1st quarter. Commonwealth Bank of Australia now owns 2,174,349 shares of the real estate investment trust’s stock valued at $278,303,000 after acquiring an additional 519,210 shares in the last quarter. Bahl & Gaynor Inc. grew its position in CROWN CASTLE IN/SH SH by 25.5% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,992,828 shares of the real estate investment trust’s stock valued at $259,766,000 after acquiring an additional 404,726 shares in the last quarter. Argent Capital Management LLC acquired a new position in CROWN CASTLE IN/SH SH in the 1st quarter valued at about $51,756,000. Finally, Jennison Associates LLC grew its position in CROWN CASTLE IN/SH SH by 7.3% in the 1st quarter. Jennison Associates LLC now owns 4,904,370 shares of the real estate investment trust’s stock valued at $627,759,000 after acquiring an additional 332,614 shares in the last quarter. Hedge funds and other institutional investors own 91.57% 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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Analyst Recommendations for CROWN CASTLE IN/SH SH (NYSE:CCI)

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