Crown Castle International (CCI) Price Target Raised to $110.00

Crown Castle International (NYSE:CCI) had its price objective increased by Barclays from $107.00 to $110.00 in a research report sent to investors on Tuesday. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

Several other brokerages also recently commented on CCI. Goldman Sachs downgraded Crown Castle International from a conviction-buy rating to a buy rating in a research note on Tuesday, March 13th. Guggenheim restated a buy rating and issued a $115.00 target price on shares of Crown Castle International in a research note on Friday, January 26th. Deutsche Bank restated a buy rating and issued a $120.00 target price on shares of Crown Castle International in a research note on Monday, January 22nd. Zacks Investment Research downgraded Crown Castle International from a buy rating to a hold rating in a research note on Wednesday, March 28th. Finally, ValuEngine upgraded Crown Castle International from a hold rating to a buy rating in a research note on Monday, April 2nd. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $114.17.

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Shares of NYSE CCI opened at $106.14 on Tuesday. Crown Castle International has a 52 week low of $93.14 and a 52 week high of $114.97. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $42,220.69, a price-to-earnings ratio of 21.88, a P/E/G ratio of 1.27 and a beta of 0.29.

Crown Castle International (NYSE:CCI) last issued its earnings results on Wednesday, January 24th. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.84). Crown Castle International had a return on equity of 4.95% and a net margin of 10.21%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business earned $1.10 EPS. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. equities analysts forecast that Crown Castle International will post 5.26 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 16th were issued a $1.05 dividend. The ex-dividend date was Thursday, March 15th. This represents a $4.20 annualized dividend and a dividend yield of 3.96%. Crown Castle International’s payout ratio is currently 86.60%.

In related news, SVP Kenneth Jay Simon sold 693 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $108.79, for a total transaction of $75,391.47. Following the transaction, the senior vice president now directly owns 14,869 shares of the company’s stock, valued at approximately $1,617,598.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jay A. Brown sold 18,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $108.43, for a total value of $1,951,740.00. Following the transaction, the insider now directly owns 162,526 shares in the company, valued at $17,622,694.18. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Magellan Asset Management Ltd raised its holdings in shares of Crown Castle International by 5.4% during the 4th quarter. Magellan Asset Management Ltd now owns 12,647,428 shares of the real estate investment trust’s stock valued at $1,403,991,000 after buying an additional 653,226 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Crown Castle International by 22.7% during the 4th quarter. Alliancebernstein L.P. now owns 7,247,868 shares of the real estate investment trust’s stock valued at $804,586,000 after buying an additional 1,338,562 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Crown Castle International by 9.8% during the 4th quarter. Renaissance Technologies LLC now owns 5,395,800 shares of the real estate investment trust’s stock valued at $598,988,000 after buying an additional 481,800 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Crown Castle International by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 3,893,575 shares of the real estate investment trust’s stock valued at $431,202,000 after buying an additional 131,806 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Crown Castle International by 1.6% during the 4th quarter. Swiss National Bank now owns 1,957,349 shares of the real estate investment trust’s stock valued at $217,285,000 after buying an additional 31,400 shares in the last quarter. 93.59% of the stock is currently owned by institutional investors.

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About Crown Castle International

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 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.

Analyst Recommendations for Crown Castle International (NYSE:CCI)

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