CROWN CASTLE IN/SH SH (NYSE:CCI) PT Raised to $188.00

CROWN CASTLE IN/SH SH (NYSE:CCI) had its price objective boosted by Wells Fargo & Co from $185.00 to $188.00 in a research note published on Friday, BenzingaRatingsTable reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

A number of other research firms have also weighed in on CCI. Royal Bank of Canada reissued a buy rating on shares of CROWN CASTLE IN/SH SH in a report on Thursday, May 7th. New Street Research raised shares of CROWN CASTLE IN/SH SH from a reduce rating to a neutral rating in a report on Thursday, March 12th. Oppenheimer raised shares of CROWN CASTLE IN/SH SH from a market perform rating to an outperform rating and set a $175.00 target price on the stock in a report on Friday, May 22nd. Morgan Stanley boosted their target price on shares of CROWN CASTLE IN/SH SH from $177.00 to $179.00 and gave the stock an overweight rating in a report on Monday, June 1st. Finally, Deutsche Bank began coverage on shares of CROWN CASTLE IN/SH SH in a research note on Friday, June 5th. They issued a hold rating and a $180.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. CROWN CASTLE IN/SH SH presently has an average rating of Buy and a consensus price target of $163.75.

CCI stock opened at $171.50 on Friday. The company has a 50 day simple moving average of $167.02 and a 200 day simple moving average of $155.16. The stock has a market cap of $71.47 billion, a price-to-earnings ratio of 89.79, a P/E/G ratio of 1.41 and a beta of 0.35. CROWN CASTLE IN/SH SH has a 1 year low of $114.18 and a 1 year high of $180.00. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.47 and a quick ratio of 0.47.

CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.11). CROWN CASTLE IN/SH SH had a return on equity of 8.39% and a net margin of 15.59%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The company’s revenue was down .4% compared to the same quarter last year. On average, equities research analysts anticipate that CROWN CASTLE IN/SH SH will post 5.79 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 12th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.80%. The ex-dividend date was Thursday, June 11th. CROWN CASTLE IN/SH SH’s dividend payout ratio is presently 84.36%.

In related news, EVP Michael Joseph Kavanagh sold 5,000 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $153.86, for a total transaction of $769,300.00. Following the transaction, the executive vice president now directly owns 47,767 shares of the company’s stock, valued at $7,349,430.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO James D. Young sold 6,000 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $168.00, for a total transaction of $1,008,000.00. Following the transaction, the chief operating officer now directly owns 198,679 shares in the company, valued at $33,378,072. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,000 shares of company stock worth $2,125,480. 0.47% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CCI. Vigilant Capital Management LLC raised its holdings in CROWN CASTLE IN/SH SH by 0.3% during the second quarter. Vigilant Capital Management LLC now owns 108,654 shares of the real estate investment trust’s stock worth $18,183,000 after buying an additional 330 shares during the last quarter. Manning & Napier Group LLC raised its holdings in CROWN CASTLE IN/SH SH by 17.2% during the second quarter. Manning & Napier Group LLC now owns 51,380 shares of the real estate investment trust’s stock worth $8,596,000 after buying an additional 7,555 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in CROWN CASTLE IN/SH SH by 81.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,349 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 604 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in CROWN CASTLE IN/SH SH by 7.1% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,009 shares of the real estate investment trust’s stock worth $169,000 after buying an additional 67 shares during the last quarter. Finally, Enterprise Bank & Trust Co raised its holdings in CROWN CASTLE IN/SH SH by 2.5% during the second quarter. Enterprise Bank & Trust Co now owns 24,225 shares of the real estate investment trust’s stock worth $4,054,000 after buying an additional 580 shares during the last quarter. 91.04% of the stock is currently owned by institutional investors and hedge funds.

CROWN CASTLE IN/SH SH Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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.

Recommended Story: What are the benefits of investing in REITs?

Analyst Recommendations for CROWN CASTLE IN/SH SH (NYSE:CCI)

Receive News & Ratings for CROWN CASTLE IN/SH SH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CROWN CASTLE IN/SH SH and related companies with MarketBeat.com's FREE daily email newsletter.