TD Cowen Increases Crown Castle (NYSE:CCI) Price Target to $127.00

Crown Castle (NYSE:CCI) had its target price lifted by TD Cowen from $124.00 to $127.00 in a report released on Thursday, Benzinga reports. TD Cowen currently has a buy rating on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on the company. Raymond James reiterated an outperform rating and issued a $126.00 price objective (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Argus lowered Crown Castle from a buy rating to a hold rating in a research note on Friday, April 19th. The Goldman Sachs Group began coverage on Crown Castle in a research report on Monday, July 1st. They set a neutral rating and a $104.00 price objective for the company. Jefferies Financial Group decreased their target price on shares of Crown Castle from $126.00 to $123.00 and set a buy rating on the stock in a research report on Thursday, April 18th. Finally, Barclays lifted their price target 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. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus 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 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 business has a fifty day moving average of $99.62 and a two-hundred day moving average of $103.04. 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 (NYSE:CCI) last announced its quarterly earnings data 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. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Crown Castle’s quarterly revenue was down 12.9% on a year-over-year basis. On average, research analysts expect that Crown Castle will post 6.62 earnings per share for the current year.

Crown Castle Dividend Announcement

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

Institutional Trading of Crown Castle

Several hedge funds have recently modified their holdings of CCI. Ables Iannone Moore & Associates Inc. purchased a new stake in Crown Castle during the 4th quarter worth about $25,000. Rational Advisors LLC acquired a new position in shares of Crown Castle during the first quarter worth about $27,000. EntryPoint Capital LLC purchased a new stake in shares of Crown Castle during the first quarter worth approximately $27,000. Gables Capital Management Inc. raised its holdings 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 acquiring an additional 164 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in Crown Castle in the fourth quarter worth approximately $30,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.