Crown Castle (NYSE:CCI) Price Target Increased to $104.00 by Analysts at Royal Bank of Canada

Crown Castle (NYSE:CCI) had its target price upped by Royal Bank of Canada from $100.00 to $104.00 in a research note issued to investors on Thursday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the real estate investment trust’s stock.

CCI has been the subject of a number of other reports. TD Cowen lifted their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a buy rating in a research note on Thursday, July 18th. Wells Fargo & Company reduced their price objective on shares of Crown Castle from $115.00 to $100.00 and set an equal weight rating for the company in a research note on Friday, April 19th. Scotiabank reduced their price objective on shares of Crown Castle from $133.00 to $118.00 and set a sector perform rating for the company in a research note on Thursday, April 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Crown Castle from $103.00 to $105.00 and gave the stock a hold rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group reduced their price objective on shares of Crown Castle from $126.00 to $123.00 and set a buy rating for the company in a research note on Thursday, April 18th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Crown Castle currently has a consensus rating of Hold and an average price target of $114.88.

Crown Castle Stock Performance

NYSE:CCI opened at $107.52 on Thursday. Crown Castle has a twelve month low of $84.72 and a twelve month high of $119.50. The company has a current ratio of 0.43, a quick ratio of 0.42 and a debt-to-equity ratio of 4.04. The company has a 50-day moving average of $99.92 and a 200-day moving average of $102.73. The firm has a market cap of $46.72 billion, a price-to-earnings ratio of 33.60 and a beta of 0.83.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the firm posted $2.05 EPS. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. Analysts forecast that Crown Castle will post 6.63 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

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 5.82%. The ex-dividend date was Friday, June 14th. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total value of $1,128,784.76. Following the sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Crown Castle

Several large investors have recently made changes to their positions in the company. HB Wealth Management LLC grew its holdings in shares of Crown Castle by 4.0% in the 2nd quarter. HB Wealth Management LLC now owns 9,828 shares of the real estate investment trust’s stock worth $960,000 after purchasing an additional 382 shares during the last quarter. 1834 Investment Advisors Co. grew its holdings in shares of Crown Castle by 16.2% in the 2nd quarter. 1834 Investment Advisors Co. now owns 80,534 shares of the real estate investment trust’s stock worth $7,868,000 after purchasing an additional 11,250 shares during the last quarter. Fort Pitt Capital Group LLC grew its holdings in shares of Crown Castle by 5.3% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 38,521 shares of the real estate investment trust’s stock worth $3,764,000 after purchasing an additional 1,934 shares during the last quarter. Conning Inc. grew its holdings in shares of Crown Castle by 9.8% in the 2nd quarter. Conning Inc. now owns 2,777 shares of the real estate investment trust’s stock worth $271,000 after purchasing an additional 249 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Crown Castle by 2.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 71,709 shares of the real estate investment trust’s stock worth $7,006,000 after purchasing an additional 1,521 shares during the last quarter. Institutional investors 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.