Crown Castle International Corporation (CCI) Rating Reiterated by CIBC

CIBC reaffirmed their market perform rating on shares of Crown Castle International Corporation (NYSE:CCI) in a research report released on Monday, October 16th.

Several other equities analysts also recently commented on the stock. Citigroup Inc. upped their price target on shares of Crown Castle International Corporation from $96.00 to $108.00 and gave the company a neutral rating in a research note on Monday, August 28th. Zacks Investment Research upgraded shares of Crown Castle International Corporation from a hold rating to a strong-buy rating and set a $114.00 price objective on the stock in a research note on Tuesday, July 11th. Macquarie reiterated a buy rating and set a $107.00 price objective on shares of Crown Castle International Corporation in a research note on Wednesday, July 19th. Royal Bank Of Canada reissued a buy rating and issued a $107.00 target price on shares of Crown Castle International Corporation in a report on Tuesday, August 29th. Finally, BidaskClub cut shares of Crown Castle International Corporation from a buy rating to a hold rating in a report on Thursday, July 6th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $110.04.

Shares of Crown Castle International Corporation (NYSE:CCI) traded up 0.01% on Monday, reaching $103.19. The company’s stock had a trading volume of 1,651,173 shares. The stock has a 50-day moving average of $102.75 and a 200 day moving average of $100.74. The stock has a market capitalization of $41.92 billion, a PE ratio of 82.35 and a beta of 0.16. Crown Castle International Corporation has a 1-year low of $79.38 and a 1-year high of $108.88.

Crown Castle International Corporation (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.07). Crown Castle International Corporation had a net margin of 11.35% and a return on equity of 5.93%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company posted $1.09 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts forecast that Crown Castle International Corporation will post $1.06 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $1.05 dividend. The ex-dividend date is Thursday, December 14th. This represents a $4.20 annualized dividend and a yield of 4.07%. This is an increase from Crown Castle International Corporation’s previous quarterly dividend of $0.95. Crown Castle International Corporation’s dividend payout ratio (DPR) is presently 316.67%.

A number of large investors have recently modified their holdings of the business. Guardian Life Insurance Co. of America lifted its stake in Crown Castle International Corporation by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,391 shares of the real estate investment trust’s stock valued at $131,000 after acquiring an additional 10 shares in the last quarter. Fiduciary Trust Co. lifted its stake in Crown Castle International Corporation by 0.7% during the 2nd quarter. Fiduciary Trust Co. now owns 3,203 shares of the real estate investment trust’s stock valued at $321,000 after acquiring an additional 21 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Crown Castle International Corporation by 0.7% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 7,625 shares of the real estate investment trust’s stock worth $764,000 after purchasing an additional 50 shares during the period. Capital Analysts LLC raised its stake in shares of Crown Castle International Corporation by 5.0% during the 2nd quarter. Capital Analysts LLC now owns 1,113 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 53 shares during the period. Finally, FineMark National Bank & Trust raised its stake in shares of Crown Castle International Corporation by 1.2% during the 2nd quarter. FineMark National Bank & Trust now owns 5,032 shares of the real estate investment trust’s stock worth $504,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 82.90% of the company’s stock.

Crown Castle International Corporation Company Profile

Castle International Corp. (CCIC) is a real estate investment trust (REIT) company. The Company owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers), and to a lesser extent, distributed antenna systems (DAS), a type of small cell network (small cells), and interests in land under third party towers in various forms (third party land interests).

Analyst Recommendations for Crown Castle International Corporation (NYSE:CCI)

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