Crown Castle International Corp. (REIT) (CCI) Receives Consensus Recommendation of “Buy” from Analysts

Crown Castle International Corp. (REIT) (NYSE:CCI) has received a consensus recommendation of “Buy” from the eighteen research firms that are currently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $109.79.

A number of equities research analysts have commented on the company. CIBC reissued a “market perform” rating on shares of Crown Castle International in a report on Monday, October 16th. BidaskClub raised Crown Castle International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Zacks Investment Research raised Crown Castle International from a “hold” rating to a “strong-buy” rating and set a $120.00 target price for the company in a report on Wednesday, September 20th. KeyCorp raised their target price on Crown Castle International from $106.00 to $114.00 in a report on Monday. Finally, UBS downgraded Crown Castle International from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th.

In other news, VP Philip M. Kelley sold 10,551 shares of Crown Castle International stock in a transaction on Monday, November 6th. The stock was sold at an average price of $113.09, for a total transaction of $1,193,212.59. Following the completion of the transaction, the vice president now owns 91,808 shares of the company’s stock, valued at approximately $10,382,566.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.41% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Crown Castle International by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 24,372,787 shares of the real estate investment trust’s stock valued at $2,441,666,000 after purchasing an additional 891,908 shares during the last quarter. BlackRock Inc. raised its stake in Crown Castle International by 4.2% in the 2nd quarter. BlackRock Inc. now owns 24,254,770 shares of the real estate investment trust’s stock valued at $2,429,841,000 after purchasing an additional 975,757 shares during the last quarter. Capital World Investors raised its stake in Crown Castle International by 12.6% in the 2nd quarter. Capital World Investors now owns 23,132,825 shares of the real estate investment trust’s stock valued at $2,317,446,000 after purchasing an additional 2,584,490 shares during the last quarter. Capital International Investors raised its stake in Crown Castle International by 10.4% in the 2nd quarter. Capital International Investors now owns 8,445,600 shares of the real estate investment trust’s stock valued at $846,080,000 after purchasing an additional 793,400 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in Crown Castle International by 3.0% in the 3rd quarter. Jennison Associates LLC now owns 8,042,148 shares of the real estate investment trust’s stock valued at $804,054,000 after purchasing an additional 236,039 shares during the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.

Crown Castle International (CCI) traded up $0.14 during trading hours on Friday, reaching $113.00. 1,731,100 shares of the company were exchanged, compared to its average volume of 2,363,727. Crown Castle International has a 1 year low of $80.82 and a 1 year high of $114.97. The company has a current ratio of 7.13, a quick ratio of 7.13 and a debt-to-equity ratio of 1.19. The stock has a market cap of $45,850.00, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 1.66 and a beta of 0.20.

Crown Castle International (NYSE:CCI) last released its earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.07). Crown Castle International had a net margin of 11.35% and a return on equity of 5.93%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business posted $1.09 EPS. Crown Castle International’s revenue was up 7.2% compared to the same quarter last year. equities research analysts anticipate that Crown Castle International will post 4.42 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, December 14th. This is an increase from Crown Castle International’s previous quarterly dividend of $0.95. Crown Castle International’s payout ratio is 316.67%.

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About Crown Castle International

Castle International Corp. (CCIC) is a real estate investment trust (REIT) company. The Company owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers), and to a lesser extent, distributed antenna systems (DAS), a type of small cell network (small cells), and interests in land under third party towers in various forms (third party land interests).

Analyst Recommendations for Crown Castle International (NYSE:CCI)

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