Crown Castle (NYSE:CCI) Upgraded by BMO Capital Markets to “Outperform” Rating

BMO Capital Markets upgraded shares of Crown Castle (NYSE:CCI) from a market perform rating to an outperform rating in a research note issued to investors on Tuesday, MarketBeat reports. They currently have $120.00 price target on the real estate investment trust’s stock, up from their previous price target of $115.00.

Several other analysts also recently issued reports on CCI. JPMorgan Chase & Co. lifted their price target on shares of Crown Castle from $115.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Wells Fargo & Company upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $105.00 to $125.00 in a research note on Thursday, July 24th. Scotiabank boosted their price objective on Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, New Street Research raised Crown Castle from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

Crown Castle Stock Down 0.2%

CCI opened at $102.6940 on Tuesday. The stock has a market capitalization of $44.72 billion, a price-to-earnings ratio of -9.62, a P/E/G ratio of 0.78 and a beta of 0.89. Crown Castle has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a 50-day simple moving average of $103.76 and a 200 day simple moving average of $100.55.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm posted $1.62 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Sell-side analysts anticipate that Crown Castle will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle’s dividend payout ratio is currently -39.83%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. bought a new position in Crown Castle in the second quarter valued at about $478,000. Advisory Services Network LLC grew its position in shares of Crown Castle by 46.1% during the second quarter. Advisory Services Network LLC now owns 22,022 shares of the real estate investment trust’s stock worth $2,314,000 after purchasing an additional 6,947 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in Crown Castle during the 2nd quarter valued at approximately $117,000. Rexford Capital Inc. purchased a new position in Crown Castle during the 2nd quarter valued at approximately $298,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in Crown Castle by 5.7% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 650,617 shares of the real estate investment trust’s stock valued at $66,936,000 after buying an additional 35,317 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

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.