Wells Fargo & Company Boosts Crown Castle (NYSE:CCI) Price Target to $105.00

Crown Castle (NYSE:CCI) had its price objective raised by Wells Fargo & Company from $100.00 to $105.00 in a research note published on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

A number of other research firms have also commented on CCI. Bank of America lifted their price objective on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. BMO Capital Markets upped their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. TD Cowen lowered their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group increased their price target on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $116.47.

Crown Castle Trading Down 1.9 %

Shares of NYSE CCI opened at $110.19 on Friday. The firm has a 50 day moving average price of $114.02 and a two-hundred day moving average price of $105.20. The stock has a market cap of $47.89 billion, a P/E ratio of 39.07 and a beta of 0.85. Crown Castle has a 52-week low of $84.72 and a 52-week high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.43 and a current ratio of 0.54.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.77 earnings per share. As a group, equities analysts forecast that Crown Castle will post 6.65 EPS for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date was Friday, September 13th. Crown Castle’s payout ratio is 221.99%.

Institutional Trading of Crown Castle

Several hedge funds have recently bought and sold shares of the business. EntryPoint Capital LLC bought a new position in shares of Crown Castle in the first quarter valued at $27,000. Asset Dedication LLC lifted its position in Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares in the last quarter. Beacon Capital Management LLC boosted its stake in Crown Castle by 163.9% during the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 177 shares during the last quarter. ORG Partners LLC bought a new stake in Crown Castle during the 2nd quarter worth approximately $34,000. Finally, New Millennium Group LLC purchased a new stake in shares of Crown Castle in the second quarter worth approximately $34,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.