Analysts Set Crown Castle Inc. (NYSE:CCI) Target Price at $114.21

Shares of Crown Castle Inc. (NYSE:CCI) have been assigned an average recommendation of “Hold” from the fifteen brokerages that are covering the firm, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $113.53.

Several brokerages have recently commented on CCI. Royal Bank of Canada dropped their target price on shares of Crown Castle from $109.00 to $100.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Barclays boosted their target price on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 23rd. Bank of America dropped their target price on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Finally, BMO Capital Markets dropped their target price on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th.

Hedge Funds Weigh In On Crown Castle

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ables Iannone Moore & Associates Inc. acquired a new position in Crown Castle in the 4th quarter valued at approximately $25,000. Rational Advisors LLC acquired a new position in Crown Castle in the 1st quarter valued at approximately $27,000. EntryPoint Capital LLC bought a new stake in shares of Crown Castle in the 1st quarter valued at $27,000. Gables Capital Management Inc. boosted its stake in shares of Crown Castle by 164.0% in the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 164 shares during the last quarter. Finally, Richardson Financial Services Inc. bought a new stake in shares of Crown Castle in the 4th quarter valued at $30,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

NYSE CCI opened at $95.28 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. The company has a market capitalization of $41.40 billion, a P/E ratio of 29.78, a P/E/G ratio of 2.59 and a beta of 0.83. Crown Castle has a 12-month low of $84.72 and a 12-month high of $119.50. The firm has a 50-day moving average price of $98.44 and a two-hundred day moving average price of $104.46.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.91 EPS. Analysts anticipate that Crown Castle will post 6.62 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend was Friday, June 14th. Crown Castle’s dividend payout ratio (DPR) is currently 195.63%.

About Crown Castle

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.