Crown Castle Inc. (NYSE:CCI – Get Free Report) has earned an average recommendation of “Hold” from the fourteen analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $117.00.
Several brokerages have weighed in on CCI. UBS Group lifted their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Barclays upped their price objective on shares of Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Citigroup set a $128.00 target price on shares of Crown Castle in a report on Thursday, October 17th. Jefferies Financial Group upped their price target on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, TD Cowen decreased their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th.
Get Our Latest Analysis on CCI
Crown Castle Price Performance
Crown Castle (NYSE:CCI – Get Free Report) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.03). The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.77 earnings per share. As a group, sell-side analysts predict that Crown Castle will post 6.66 earnings per share for the current year.
Crown Castle Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.87%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is 221.99%.
Hedge Funds Weigh In On Crown Castle
Large investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of Crown Castle by 23.8% during the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after purchasing an additional 3,371,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Crown Castle by 433.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after acquiring an additional 3,225,460 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Crown Castle by 4,097.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock valued at $246,617,000 after acquiring an additional 2,464,094 shares during the period. Bank of Montreal Can increased its position in Crown Castle by 191.7% in the 2nd quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock valued at $195,183,000 after acquiring an additional 1,335,644 shares during the period. Finally, Cooke & Bieler LP raised its stake in shares of Crown Castle by 95.8% during the second quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock valued at $251,962,000 after acquiring an additional 1,261,536 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.
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.
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