Crown Castle International Corp. (REIT) (CCI) Receives Average Recommendation of “Buy” from Brokerages

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.

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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.

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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).

Analyst Recommendations for Crown Castle International (NYSE:CCI)

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