Crown Castle Inc. (NYSE:CCI) Receives $95.13 Consensus Price Target from Brokerages

Shares of Crown Castle Inc. (NYSE:CCI) have earned an average recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the firm, Marketbeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $95.1263.

A number of analysts recently weighed in on CCI shares. KeyCorp increased their price target on shares of Crown Castle from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. JPMorgan Chase & Co. lowered their target price on shares of Crown Castle from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, July 23rd. The Goldman Sachs Group initiated coverage on shares of Crown Castle in a report on Friday, June 26th. They issued a “neutral” rating and a $95.00 target price on the stock. Finally, Wolfe Research cut shares of Crown Castle from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 20th.

Insiders Place Their Bets

In other Crown Castle news, VP Robert Sean Collins sold 1,500 shares of Crown Castle stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the transaction, the vice president directly owned 5,113 shares in the company, valued at approximately $388,025.57. The trade was a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Crown Castle

A number of hedge funds have recently modified their holdings of CCI. Empowered Funds LLC increased its stake in Crown Castle by 7.5% during the 1st quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock worth $1,714,000 after purchasing an additional 1,150 shares in the last quarter. First Trust Advisors LP lifted its stake in Crown Castle by 6.9% in the second quarter. First Trust Advisors LP now owns 87,611 shares of the real estate investment trust’s stock valued at $9,000,000 after buying an additional 5,630 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Crown Castle by 3.7% in the second quarter. Baird Financial Group Inc. now owns 7,655 shares of the real estate investment trust’s stock valued at $786,000 after buying an additional 272 shares during the period. Jump Financial LLC boosted its holdings in shares of Crown Castle by 49.3% in the second quarter. Jump Financial LLC now owns 10,913 shares of the real estate investment trust’s stock valued at $1,121,000 after buying an additional 3,603 shares during the period. Finally, Federated Hermes Inc. increased its position in shares of Crown Castle by 5.6% during the second quarter. Federated Hermes Inc. now owns 4,955 shares of the real estate investment trust’s stock worth $509,000 after acquiring an additional 261 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Up 0.2%

NYSE:CCI opened at $75.91 on Wednesday. Crown Castle has a 1-year low of $69.72 and a 1-year high of $104.61. The firm has a market capitalization of $32.30 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 0.40 and a beta of 0.95. The business’s 50-day moving average price is $79.61 and its two-hundred day moving average price is $84.52.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Crown Castle’s dividend payout ratio (DPR) is presently 215.74%.

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.