Crown Castle Inc. (NYSE:CCI) Receives $107.63 Average Price Target from Brokerages

Shares of Crown Castle Inc. (NYSE:CCI) have been given a consensus rating of “Moderate Buy” by the eighteen brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $106.75.

CCI has been the topic of several recent research reports. UBS Group reduced their price target on Crown Castle from $127.00 to $116.00 and set a “buy” rating on the stock in a research report on Tuesday, January 20th. Citigroup dropped their price objective on Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Jefferies Financial Group cut their target price on shares of Crown Castle from $102.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, December 16th. The Goldman Sachs Group lowered their price target on shares of Crown Castle from $117.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, January 16th. Finally, Royal Bank Of Canada dropped their price target on shares of Crown Castle from $112.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, January 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CCI. Vanguard Group Inc. grew its position in shares of Crown Castle by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 69,290,381 shares of the real estate investment trust’s stock worth $7,118,201,000 after buying an additional 449,776 shares during the last quarter. State Street Corp raised its holdings in shares of Crown Castle by 1.2% during the third quarter. State Street Corp now owns 21,728,541 shares of the real estate investment trust’s stock valued at $2,096,587,000 after acquiring an additional 266,963 shares in the last quarter. Invesco Ltd. lifted its stake in Crown Castle by 33.2% in the third quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust’s stock worth $621,172,000 after acquiring an additional 1,605,291 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Crown Castle by 3.0% in the third quarter. Dimensional Fund Advisors LP now owns 6,185,915 shares of the real estate investment trust’s stock valued at $596,876,000 after acquiring an additional 177,896 shares in the last quarter. Finally, Norges Bank purchased a new position in Crown Castle during the 2nd quarter valued at $629,431,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 0.7%

Shares of NYSE:CCI opened at $87.25 on Friday. The stock has a market capitalization of $37.99 billion, a P/E ratio of -8.21, a price-to-earnings-growth ratio of 0.55 and a beta of 0.96. The stock’s 50-day moving average price is $88.53 and its 200-day moving average price is $95.02. Crown Castle has a 12-month low of $83.21 and a 12-month high of $115.76.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Monday, December 15th. Crown Castle’s dividend payout ratio is currently -39.98%.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.