Analysts Set Crown Castle International Corp. (REIT) (NYSE:CCI) Target Price at $198.55

Crown Castle International Corp. (REIT) (NYSE:CCI) has received a consensus rating of “Buy” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $198.55.

Several equities analysts recently weighed in on CCI shares. Morgan Stanley lifted their target price on Crown Castle International from $204.00 to $213.00 and gave the company an “overweight” rating in a research report on Friday, September 10th. They noted that the move was a valuation call. Credit Suisse Group raised Crown Castle International from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $192.00 to $195.00 in a report on Tuesday, October 19th. JPMorgan Chase & Co. reduced their price objective on Crown Castle International from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, September 30th. They noted that the move was a valuation call. KeyCorp reduced their price objective on Crown Castle International from $224.00 to $202.00 and set an “overweight” rating on the stock in a research note on Friday, October 22nd. Finally, Royal Bank of Canada cut their target price on Crown Castle International from $210.00 to $202.00 and set an “outperform” rating on the stock in a research note on Monday, October 25th.

NYSE CCI opened at $183.91 on Friday. Crown Castle International has a fifty-two week low of $146.15 and a fifty-two week high of $204.62. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a 50 day simple moving average of $178.89 and a two-hundred day simple moving average of $188.62. The stock has a market cap of $79.49 billion, a P/E ratio of 60.62, a price-to-earnings-growth ratio of 2.79 and a beta of 0.41.

Crown Castle International (NYSE:CCI) last released its earnings results on Tuesday, October 19th. The real estate investment trust reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.05. Crown Castle International had a return on equity of 14.75% and a net margin of 21.27%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the business posted $1.56 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts predict that Crown Castle International will post 6.58 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 31st. Investors of record on Wednesday, December 15th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Tuesday, December 14th. This is a positive change from Crown Castle International’s previous quarterly dividend of $1.33. This represents a $5.88 dividend on an annualized basis and a yield of 3.20%. Crown Castle International’s dividend payout ratio (DPR) is currently 175.58%.

In other news, Director Kevin A. Stephens purchased 1,110 shares of the business’s stock in a transaction dated Wednesday, October 27th. The stock was acquired at an average price of $178.66 per share, for a total transaction of $198,312.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.45% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CCI. Clearview Wealth Advisors LLC lifted its position in Crown Castle International by 50.0% in the 2nd quarter. Clearview Wealth Advisors LLC now owns 168 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 56 shares during the last quarter. Mitchell & Pahl Private Wealth LLC increased its position in shares of Crown Castle International by 2.2% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 2,652 shares of the real estate investment trust’s stock worth $460,000 after acquiring an additional 57 shares in the last quarter. Minot Wealth Management LLC increased its position in shares of Crown Castle International by 1.8% in the second quarter. Minot Wealth Management LLC now owns 3,285 shares of the real estate investment trust’s stock worth $658,000 after acquiring an additional 58 shares in the last quarter. Founders Financial Alliance LLC increased its position in shares of Crown Castle International by 3.2% in the second quarter. Founders Financial Alliance LLC now owns 1,898 shares of the real estate investment trust’s stock worth $371,000 after acquiring an additional 58 shares in the last quarter. Finally, Brighton Jones LLC boosted its holdings in shares of Crown Castle International by 1.9% during the second quarter. Brighton Jones LLC now owns 3,085 shares of the real estate investment trust’s stock worth $602,000 after purchasing an additional 58 shares during the period. 90.15% of the stock is owned by hedge funds and other institutional investors.

Crown Castle International Company Profile

Crown Castle International Corp. is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the following segments: Towers and Fiber. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.

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Analyst Recommendations for Crown Castle International (NYSE:CCI)

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