Crown Castle (NYSE:CCI) Given New $112.00 Price Target at Barclays

Crown Castle (NYSE:CCI) had its price target boosted by Barclays from $111.00 to $112.00 in a report issued on Tuesday, Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

Other equities analysts have also issued reports about the stock. Bank of America cut their target price on shares of Crown Castle from $120.00 to $105.00 and set a neutral rating for the company in a report on Friday, April 19th. Jefferies Financial Group dropped their price target on shares of Crown Castle from $126.00 to $123.00 and set a buy rating on the stock in a research note on Thursday, April 18th. Scotiabank dropped their price target on shares of Crown Castle from $133.00 to $118.00 and set a sector perform rating on the stock in a research note on Thursday, April 18th. Argus cut shares of Crown Castle from a buy rating to a hold rating in a research note on Friday, April 19th. Finally, Royal Bank of Canada lifted their price target on shares of Crown Castle from $92.00 to $109.00 and gave the company a sector perform rating in a research note on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Crown Castle currently has an average rating of Hold and an average price target of $113.29.

Crown Castle Price Performance

NYSE:CCI opened at $95.47 on Tuesday. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40. The firm has a market cap of $41.48 billion, a price-to-earnings ratio of 29.83, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73. The company has a 50 day moving average price of $104.43 and a 200-day moving average price of $105.40. Crown Castle has a 1-year low of $84.72 and a 1-year high of $128.27.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.92). The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. Crown Castle’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period last year, the firm earned $1.91 earnings per share. Equities research analysts forecast that Crown Castle will post 6.59 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.565 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.56%. Crown Castle’s dividend payout ratio (DPR) is currently 195.63%.

Institutional Trading of Crown Castle

Several institutional investors and hedge funds have recently bought and sold shares of CCI. Riverview Trust Co raised its holdings in Crown Castle by 108.5% in the 3rd quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 140 shares during the period. Caprock Group LLC increased its stake in Crown Castle by 13.4% during the third quarter. Caprock Group LLC now owns 5,228 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 618 shares during the period. Miller Howard Investments Inc. NY increased its stake in Crown Castle by 1.7% during the third quarter. Miller Howard Investments Inc. NY now owns 45,526 shares of the real estate investment trust’s stock worth $4,190,000 after purchasing an additional 755 shares during the period. Proficio Capital Partners LLC increased its stake in Crown Castle by 3.8% during the third quarter. Proficio Capital Partners LLC now owns 6,940 shares of the real estate investment trust’s stock worth $639,000 after purchasing an additional 253 shares during the period. Finally, NovaPoint Capital LLC increased its stake in Crown Castle by 19.9% during the third quarter. NovaPoint Capital LLC now owns 5,626 shares of the real estate investment trust’s stock worth $518,000 after purchasing an additional 935 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

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.