Crown Castle (NYSE:CCI) Price Target Raised to $112.00 at Barclays

Crown Castle (NYSE:CCI) had its price objective lifted by Barclays from $111.00 to $112.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

A number of other research analysts have also recently weighed in on the company. Royal Bank of Canada lifted their price objective on Crown Castle from $92.00 to $109.00 and gave the company a sector perform rating in a research report on Wednesday, February 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on Crown Castle from $110.00 to $109.00 and set a hold rating on the stock in a research report on Monday. Bank of America lowered their price objective on Crown Castle from $120.00 to $105.00 and set a neutral rating on the stock in a research report on Friday, April 19th. BMO Capital Markets decreased their target price on Crown Castle from $110.00 to $105.00 and set a market perform rating on the stock in a research note on Thursday, April 18th. Finally, Scotiabank decreased their target price on Crown Castle from $133.00 to $118.00 and set a sector perform rating on the stock in a research note on Thursday, April 18th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Crown Castle presently has a consensus rating of Hold and a consensus price target of $113.29.

Crown Castle Trading Down 1.3 %

Shares of NYSE:CCI opened at $94.20 on Tuesday. The stock has a market capitalization of $40.93 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 2.54 and a beta of 0.73. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42. The stock’s 50-day simple moving average is $103.94 and its two-hundred day simple moving average is $105.25. Crown Castle has a 52-week low of $84.72 and a 52-week high of $123.79.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the firm earned $1.91 earnings per share. The firm’s quarterly revenue was down 7.4% on a year-over-year basis. Analysts expect that Crown Castle will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is 195.63%.

Institutional Trading of Crown Castle

A number of large investors have recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in Crown Castle by 8.9% in the 3rd quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock worth $1,203,648,000 after acquiring an additional 1,064,382 shares during the last quarter. FMR LLC boosted its holdings in shares of Crown Castle by 14.3% in the 3rd quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock worth $1,098,526,000 after purchasing an additional 1,496,330 shares during the period. Cohen & Steers Inc. boosted its holdings in shares of Crown Castle by 7.9% in the 4th quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock worth $1,310,559,000 after purchasing an additional 834,198 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Crown Castle by 11.1% in the 4th quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock worth $1,297,147,000 after purchasing an additional 1,126,394 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Crown Castle by 42.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock worth $651,910,000 after purchasing an additional 2,121,603 shares during the period. Institutional investors own 90.77% of the company’s stock.

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.