Crown Castle (NYSE:CCI) PT Raised to $120.00

Crown Castle (NYSE:CCI) had its price objective hoisted by The Goldman Sachs Group from $105.00 to $120.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

CCI has been the topic of a number of other reports. BMO Capital Markets upped their price target on Crown Castle from $105.00 to $108.00 and gave the company a market perform rating in a report on Thursday, July 18th. Raymond James reissued an outperform rating and issued a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Bank of America increased their target price on Crown Castle from $110.00 to $115.00 and gave the company a neutral rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. increased their target price on Crown Castle from $115.00 to $124.00 and gave the company a neutral rating in a report on Monday, September 23rd. Finally, TD Cowen increased their target price on Crown Castle from $124.00 to $127.00 and gave the company a buy rating in a report on Thursday, July 18th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $115.40.

Crown Castle Trading Up 1.6 %

Crown Castle stock opened at $116.61 on Thursday. The company has a market capitalization of $50.68 billion, a price-to-earnings ratio of 36.44 and a beta of 0.85. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle has a 12 month low of $84.72 and a 12 month high of $120.92. The business’s fifty day simple moving average is $112.78 and its two-hundred day simple moving average is $104.17.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The company’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 earnings per share. As a group, equities analysts predict that Crown Castle will post 6.64 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.37%. The ex-dividend date is Friday, September 13th. Crown Castle’s dividend payout ratio is currently 195.63%.

Insider Buying and Selling

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the completion of the sale, the chief operating officer now owns 75,127 shares in the company, valued at $7,792,172.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crown Castle

Several institutional investors have recently modified their holdings of the stock. Ables Iannone Moore & Associates Inc. purchased a new position in Crown Castle during the 4th quarter valued at $25,000. EntryPoint Capital LLC purchased a new position in Crown Castle during the 1st quarter valued at $27,000. Richardson Financial Services Inc. purchased a new position in Crown Castle during the 4th quarter valued at $30,000. Asset Dedication LLC lifted its holdings in shares of Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 167 shares during the period. Finally, Beacon Capital Management LLC lifted its holdings in shares of Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 177 shares during the period. 90.77% of the stock is owned by institutional investors.

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.