Crown Castle (NYSE:CCI) Price Target Raised to $108.00 at BMO Capital Markets

Crown Castle (NYSE:CCI) had its target price upped by BMO Capital Markets from $105.00 to $108.00 in a report published on Thursday, Benzinga reports. They currently have a market perform rating on the real estate investment trust’s stock.

CCI has been the topic of a number of other reports. Argus lowered shares of Crown Castle from a buy rating to a hold rating in a research report on Friday, April 19th. Jefferies Financial Group lowered their target price on Crown Castle from $126.00 to $123.00 and set a buy rating for the company in a report on Thursday, April 18th. Bank of America raised their price target on Crown Castle from $105.00 to $110.00 and gave the company a neutral rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Crown Castle from $110.00 to $109.00 and set a hold rating for the company in a research note on Monday, April 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of Crown Castle in a research report on Monday, July 1st. They set a neutral rating and a $104.00 target price on the stock. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Crown Castle presently has an average rating of Hold and a consensus target price of $114.88.

Crown Castle Price Performance

CCI opened at $105.08 on Thursday. The business has a fifty day moving average of $99.62 and a 200 day moving average of $103.04. The stock has a market cap of $45.66 billion, a P/E ratio of 32.84, a PEG ratio of 2.79 and a beta of 0.83. The company has a quick ratio of 0.42, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle has a 52-week low of $84.72 and a 52-week high of $119.50.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The business’s revenue was down 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 earnings per share. As a group, sell-side analysts anticipate that Crown Castle will post 6.62 EPS 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 issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 5.96%. The ex-dividend date was Friday, June 14th. Crown Castle’s dividend payout ratio is presently 195.63%.

Hedge Funds Weigh In On Crown Castle

Hedge funds have recently modified their holdings of the stock. Ables Iannone Moore & Associates Inc. purchased a new stake in Crown Castle during the 4th quarter worth approximately $25,000. Rational Advisors LLC acquired a new stake in shares of Crown Castle during the first quarter worth $27,000. EntryPoint Capital LLC purchased a new stake in Crown Castle during the 1st quarter valued at about $27,000. Gables Capital Management Inc. boosted its position in Crown Castle by 164.0% in the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 164 shares during the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in shares of Crown Castle in the fourth quarter worth $30,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.