Brokerages Set Crown Castle Inc. (NYSE:CCI) Target Price at $111.35

Shares of Crown Castle Inc. (NYSE:CCI) have been given an average recommendation of “Moderate Buy” by the twenty brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and three have issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $111.3529.

Several analysts recently weighed in on the stock. Raymond James Financial reduced their target price on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a report on Thursday, October 23rd. Wolfe Research upgraded shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target for the company in a report on Monday, September 22nd. Wells Fargo & Company reduced their price objective on shares of Crown Castle from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, December 16th. BMO Capital Markets decreased their price objective on shares of Crown Castle from $114.00 to $107.00 and set an “outperform” rating for the company in a research report on Wednesday, December 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd.

Crown Castle Trading Down 0.3%

Shares of NYSE CCI opened at $88.63 on Tuesday. The stock has a market cap of $38.60 billion, a P/E ratio of -8.34, a PEG ratio of 0.57 and a beta of 0.96. Crown Castle has a 12-month low of $84.20 and a 12-month high of $115.76. The business’s fifty day simple moving average is $89.94 and its 200-day simple moving average is $96.73.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping the consensus estimate of $1.04 by $0.08. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.Crown Castle’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities analysts forecast that Crown Castle will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a $1.0625 dividend. The ex-dividend date was Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.8%. Crown Castle’s dividend payout ratio is presently -39.98%.

Insider Buying and Selling at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the sale, the executive vice president owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Crown Castle

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Davis Selected Advisers grew its position in shares of Crown Castle by 2.2% in the 3rd quarter. Davis Selected Advisers now owns 43,240 shares of the real estate investment trust’s stock valued at $4,172,000 after buying an additional 940 shares during the last quarter. Triumph Capital Management acquired a new position in Crown Castle in the third quarter valued at $31,000. Swiss Life Asset Management Ltd grew its holdings in shares of Crown Castle by 15.4% during the third quarter. Swiss Life Asset Management Ltd now owns 88,679 shares of the real estate investment trust’s stock worth $8,557,000 after purchasing an additional 11,858 shares during the last quarter. Groupama Asset Managment purchased a new position in shares of Crown Castle during the third quarter worth about $1,270,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Crown Castle during the third quarter worth about $7,500,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Company Profile

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.