Crown Castle (NYSE:CCI) Given New $116.00 Price Target at Barclays

by · The Markets Daily

Crown Castle (NYSE:CCI – Free Report) had its target price hoisted by Barclays from $112.00 to $116.00 in a report issued on Thursday morning, Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

CCI has been the topic of a number of other research reports. Raymond James reissued an outperform rating and set a $126.00 price objective (up previously from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. TD Cowen raised their price objective on Crown Castle from $124.00 to $127.00 and gave the company a buy rating in a research note on Thursday, July 18th. Bank of America upped their target price on Crown Castle from $110.00 to $115.00 and gave the stock a neutral rating in a research report on Tuesday, August 13th. Royal Bank of Canada lifted their price objective on shares of Crown Castle from $100.00 to $104.00 and gave the company a sector perform rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of Crown Castle from $115.00 to $124.00 and gave the stock a neutral rating in a report on Monday, September 23rd. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $115.67.

Read Our Latest Research Report on Crown Castle

Crown Castle Trading Up 0.8 %

CCI opened at $110.81 on Thursday. The stock has a market cap of $48.15 billion, a PE ratio of 40.59 and a beta of 0.85. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle has a twelve month low of $84.72 and a twelve month high of $120.92. The company has a fifty day moving average of $113.84 and a 200-day moving average of $104.82.

Crown Castle (NYSE:CCI – Get Free Report) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm’s revenue was down 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 earnings per share. On average, sell-side analysts predict that Crown Castle will post 6.64 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.65%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio is currently 229.30%.

Insider Activity

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total value 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 approximately $7,792,172.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.39% of the company’s stock.

Institutional Trading of Crown Castle

Several large investors have recently bought and sold shares of the company. Biltmore Family Office LLC grew its position in shares of Crown Castle by 9.3% in the 4th quarter. Biltmore Family Office LLC now owns 4,116 shares of the real estate investment trust’s stock worth $474,000 after buying an additional 350 shares during the period. Gillson Capital LP purchased a new position in shares of Crown Castle during the fourth quarter valued at approximately $8,702,000. GSA Capital Partners LLP bought a new stake in shares of Crown Castle in the 4th quarter worth approximately $2,753,000. Hobbs Group Advisors LLC bought a new position in Crown Castle during the 4th quarter valued at approximately $488,000. Finally, FIL Ltd boosted its holdings in Crown Castle by 1.4% in the fourth quarter. FIL Ltd now owns 3,528,899 shares of the real estate investment trust’s stock worth $406,494,000 after acquiring an additional 48,892 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

About Crown Castle

(Get Free Report)

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.

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