Shares of Crown Castle International Corp. (REIT) (NYSE:CCI) have been given an average rating of “Buy” by the eighteen ratings firms that are currently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $112.73.
CCI has been the topic of several research reports. KeyCorp upped their price objective on shares of Crown Castle International from $106.00 to $114.00 in a report on Monday, November 27th. Guggenheim reiterated a “buy” rating and issued a $115.00 price objective on shares of Crown Castle International in a report on Friday, January 26th. Deutsche Bank reiterated a “buy” rating and issued a $120.00 price objective on shares of Crown Castle International in a report on Monday, January 22nd. Goldman Sachs Group downgraded shares of Crown Castle International from a “conviction-buy” rating to a “buy” rating in a report on Tuesday. Finally, Zacks Investment Research upgraded shares of Crown Castle International from a “sell” rating to a “hold” rating in a report on Monday, January 29th.
Crown Castle International (NYSE CCI) traded down $0.09 during trading hours on Friday, hitting $109.52. 2,769,779 shares of the company’s stock traded hands, compared to its average volume of 2,926,932. Crown Castle International has a 12-month low of $89.53 and a 12-month high of $114.97. The firm has a market capitalization of $44,600.00, a P/E ratio of 108.55, a P/E/G ratio of 1.38 and a beta of 0.28. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.88 and a current ratio of 0.88.
Crown Castle International (NYSE:CCI) last released its quarterly earnings data on Wednesday, January 24th. The real estate investment trust reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.84). Crown Castle International had a net margin of 10.21% and a return on equity of 4.95%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. Crown Castle International’s revenue for the quarter was up 20.0% on a year-over-year basis. equities research analysts expect that Crown Castle International will post 5.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be paid a $1.05 dividend. The ex-dividend date is Thursday, March 15th. This represents a $4.20 annualized dividend and a dividend yield of 3.83%. Crown Castle International’s dividend payout ratio (DPR) is presently 415.84%.
In related news, SVP Kenneth Jay Simon sold 693 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $108.79, for a total value of $75,391.47. Following the transaction, the senior vice president now directly owns 14,869 shares in the company, valued at $1,617,598.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jay A. Brown sold 18,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $108.43, for a total transaction of $1,951,740.00. Following the completion of the transaction, the insider now owns 162,526 shares in the company, valued at $17,622,694.18. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Magellan Asset Management Ltd grew its stake in Crown Castle International by 5.4% during the fourth quarter. Magellan Asset Management Ltd now owns 12,647,428 shares of the real estate investment trust’s stock worth $1,403,991,000 after buying an additional 653,226 shares in the last quarter. Alliancebernstein L.P. grew its stake in Crown Castle International by 22.7% during the fourth quarter. Alliancebernstein L.P. now owns 7,247,868 shares of the real estate investment trust’s stock worth $804,586,000 after buying an additional 1,338,562 shares in the last quarter. Renaissance Technologies LLC grew its stake in Crown Castle International by 9.8% during the fourth quarter. Renaissance Technologies LLC now owns 5,395,800 shares of the real estate investment trust’s stock worth $598,988,000 after buying an additional 481,800 shares in the last quarter. Geode Capital Management LLC grew its stake in Crown Castle International by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 3,893,575 shares of the real estate investment trust’s stock worth $431,202,000 after buying an additional 131,806 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in Crown Castle International by 2.4% during the third quarter. Macquarie Group Ltd. now owns 3,212,873 shares of the real estate investment trust’s stock worth $321,223,000 after buying an additional 74,411 shares in the last quarter. Hedge funds and other institutional investors own 93.58% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This news story was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another website, it was stolen and republished in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://www.dispatchtribunal.com/2018/04/08/crown-castle-international-corp-reit-cci-receives-average-recommendation-of-buy-from-brokerages.html.
About Crown Castle International
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).
Receive News & Ratings for Crown Castle International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Castle International and related companies with MarketBeat.com's FREE daily email newsletter.