Crown Castle Inc. (NYSE:CCI – Get Rating) has been given an average rating of “Moderate Buy” by the sixteen analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $195.20.
Several equities analysts recently commented on CCI shares. Wells Fargo & Company cut their target price on Crown Castle from $180.00 to $175.00 and set an “underweight” rating for the company in a research report on Tuesday, July 19th. Credit Suisse Group reduced their target price on shares of Crown Castle to $213.00 in a research note on Friday, July 22nd. The Goldman Sachs Group dropped their target price on shares of Crown Castle from $189.00 to $166.00 and set a “neutral” rating for the company in a research report on Tuesday, July 12th. Barclays reduced their price target on shares of Crown Castle from $214.00 to $212.00 and set an “overweight” rating on the stock in a research report on Friday, August 26th. Finally, Citigroup dropped their price objective on shares of Crown Castle from $204.00 to $200.00 and set a “buy” rating for the company in a report on Monday, July 11th.
Crown Castle Trading Up 1.0 %
Shares of Crown Castle stock opened at $163.22 on Friday. Crown Castle has a 52-week low of $153.70 and a 52-week high of $209.87. The firm has a market capitalization of $70.68 billion, a PE ratio of 45.85 and a beta of 0.60. The company has a debt-to-equity ratio of 2.70, a current ratio of 0.69 and a quick ratio of 0.69. The company’s fifty day moving average price is $174.77 and its two-hundred day moving average price is $178.10.
Crown Castle Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.60%. The ex-dividend date is Wednesday, September 14th. Crown Castle’s dividend payout ratio is 165.17%.
Insiders Place Their Bets
In other Crown Castle news, Director Kevin A. Stephens acquired 699 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were acquired at an average cost of $173.60 per share, for a total transaction of $121,346.40. Following the completion of the acquisition, the director now directly owns 10,703 shares of the company’s stock, valued at approximately $1,858,040.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.47% of the company’s stock.
Institutional Investors Weigh In On Crown Castle
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Crown Castle by 1.8% in the first quarter. Vanguard Group Inc. now owns 56,909,352 shares of the real estate investment trust’s stock worth $10,505,466,000 after purchasing an additional 1,015,352 shares during the period. BlackRock Inc. raised its stake in Crown Castle by 15.3% during the 4th quarter. BlackRock Inc. now owns 37,010,877 shares of the real estate investment trust’s stock worth $7,725,650,000 after buying an additional 4,919,828 shares during the period. State Street Corp lifted its holdings in Crown Castle by 6.4% during the first quarter. State Street Corp now owns 20,925,592 shares of the real estate investment trust’s stock worth $3,862,864,000 after acquiring an additional 1,261,426 shares in the last quarter. Capital International Investors grew its stake in Crown Castle by 1.3% in the first quarter. Capital International Investors now owns 17,940,782 shares of the real estate investment trust’s stock valued at $3,311,853,000 after acquiring an additional 231,430 shares during the period. Finally, FMR LLC increased its holdings in shares of Crown Castle by 23.7% in the second quarter. FMR LLC now owns 12,273,955 shares of the real estate investment trust’s stock worth $2,066,688,000 after acquiring an additional 2,354,559 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.
Crown Castle Company Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.
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