Crown Castle (NYSE:CCI) Price Target Raised to $125.00

Crown Castle (NYSE:CCI) had its price objective raised by JMP Securities from $115.00 to $125.00 in a research note released on Thursday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the real estate investment trust’s stock.

CCI has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft reduced their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Royal Bank of Canada reduced their target price on Crown Castle from $109.00 to $107.00 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. Wolfe Research raised Crown Castle from an “underperform” rating to a “peer perform” rating in a report on Monday, March 17th. Scotiabank upped their price objective on shares of Crown Castle from $99.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, April 22nd. Finally, Raymond James raised shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their price objective for the company from $128.00 to $122.00 in a research report on Friday, March 14th. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Crown Castle has an average rating of “Moderate Buy” and a consensus target price of $111.47.

Crown Castle Trading Up 0.6 %

Shares of NYSE CCI opened at $106.93 on Thursday. Crown Castle has a 1-year low of $84.20 and a 1-year high of $120.92. The business has a fifty day moving average price of $100.33 and a 200 day moving average price of $98.06. The stock has a market capitalization of $46.56 billion, a P/E ratio of 37.92 and a beta of 0.93. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.62). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company posted $1.72 earnings per share. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. Equities research analysts expect that Crown Castle will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 5.85%. Crown Castle’s dividend payout ratio (DPR) is presently -58.18%.

Institutional Trading of Crown Castle

Several hedge funds and other institutional investors have recently bought and sold shares of CCI. Iron Horse Wealth Management LLC purchased a new stake in shares of Crown Castle during the 1st quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Crown Castle in the first quarter valued at approximately $26,000. Twin Tree Management LP acquired a new position in shares of Crown Castle during the 4th quarter worth approximately $25,000. American National Bank & Trust purchased a new position in shares of Crown Castle during the 1st quarter valued at approximately $29,000. Finally, Capital Advisors Ltd. LLC lifted its position in shares of Crown Castle by 62.1% during the 1st quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 133 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

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.