Crown Castle (NYSE:CCI) Price Target Raised to $110.00 at Bank of America

Crown Castle (NYSE:CCI) had its price target increased by Bank of America from $105.00 to $110.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Several other equities research analysts also recently issued reports on CCI. Scotiabank lowered their price target on Crown Castle from $133.00 to $118.00 and set a sector perform rating for the company in a report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Crown Castle from $110.00 to $109.00 and set a hold rating on the stock in a report on Monday, April 22nd. TD Cowen upped their price target on shares of Crown Castle from $124.00 to $127.00 and gave the company a buy rating in a report on Thursday. Barclays raised their price objective on shares of Crown Castle from $111.00 to $112.00 and gave the stock an equal weight rating in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada reduced 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 note on Tuesday, May 7th. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $114.88.

Crown Castle Stock Up 0.0 %

Shares of NYSE CCI opened at $105.08 on Thursday. Crown Castle has a 52-week low of $84.72 and a 52-week high of $119.50. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.42 and a current ratio of 0.43. The stock has a market cap of $45.66 billion, a P/E ratio of 32.84, a P/E/G ratio of 2.79 and a beta of 0.83. The firm has a 50 day moving average price of $99.62 and a 200 day moving average price of $103.04.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the firm posted $2.05 earnings per share. The business’s quarterly revenue was down 12.9% compared to the same quarter last year. Analysts expect that Crown Castle will post 6.62 EPS for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.96%. The ex-dividend date of this dividend was Friday, June 14th. Crown Castle’s dividend payout ratio (DPR) is currently 195.63%.

Institutional Investors Weigh In On Crown Castle

Several hedge funds have recently bought and sold shares of CCI. Ables Iannone Moore & Associates Inc. bought a new stake in Crown Castle in the fourth quarter valued at approximately $25,000. Rational Advisors LLC acquired a new stake in Crown Castle during the 1st quarter valued at $27,000. EntryPoint Capital LLC bought a new position in Crown Castle during the first quarter worth $27,000. Gables Capital Management Inc. increased its holdings in shares of 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 purchasing an additional 164 shares during the last quarter. Finally, Richardson Financial Services Inc. bought a new position in shares of Crown Castle in the fourth quarter valued at about $30,000. 90.77% of the stock is currently 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.