Crown Castle International Corp. (REIT) (NYSE:CCI) Receives $196.27 Consensus Price Target from Analysts

Shares of Crown Castle International Corp. (REIT) (NYSE:CCI) have been given an average rating of “Buy” by the fourteen ratings firms that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $197.09.

Several analysts have issued reports on CCI shares. Deutsche Bank Aktiengesellschaft increased their target price on Crown Castle International from $195.00 to $209.00 and gave the company a “buy” rating in a research report on Friday, June 11th. Citigroup cut Crown Castle International from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 13th. Oppenheimer cut Crown Castle International from an “outperform” rating to a “market perform” rating and set a $205.00 target price on the stock. in a research report on Friday. Credit Suisse Group lowered their price objective on Crown Castle International from $193.00 to $192.00 and set a “neutral” rating for the company in a research report on Friday, July 23rd. Finally, Morgan Stanley raised their price objective on Crown Castle International from $204.00 to $213.00 and gave the stock an “overweight” rating in a research report on Friday. They noted that the move was a valuation call.

NYSE:CCI traded down $0.58 during midday trading on Tuesday, hitting $189.25. The stock had a trading volume of 1,607,803 shares, compared to its average volume of 1,808,732. Crown Castle International has a one year low of $146.15 and a one year high of $204.62. The company has a market capitalization of $81.79 billion, a price-to-earnings ratio of 72.79, a PEG ratio of 1.37 and a beta of 0.37. The stock has a 50-day moving average of $195.64 and a 200 day moving average of $186.16. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.30.

Crown Castle International (NYSE:CCI) last announced its quarterly earnings data on Tuesday, July 20th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.08. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Crown Castle International had a return on equity of 12.30% and a net margin of 18.62%. Crown Castle International’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 earnings per share. On average, sell-side analysts anticipate that Crown Castle International will post 6.55 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Wednesday, September 15th will be issued a dividend of $1.33 per share. This represents a $5.32 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Tuesday, September 14th. Crown Castle International’s dividend payout ratio is currently 78.47%.

In other news, COO Christopher Levendos sold 4,000 shares of Crown Castle International stock in a transaction that occurred on Monday, July 26th. The shares were sold at an average price of $191.52, for a total transaction of $766,080.00. Following the sale, the chief operating officer now owns 8,246 shares of the company’s stock, valued at approximately $1,579,273.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director J Landis Martin purchased 4,200 shares of Crown Castle International stock in a transaction dated Monday, July 26th. The shares were purchased at an average cost of $191.52 per share, for a total transaction of $804,384.00. Following the transaction, the director now owns 141,755 shares in the company, valued at approximately $27,148,917.60. The disclosure for this purchase can be found here. Insiders own 0.45% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in CCI. Marshall Wace LLP purchased a new stake in Crown Castle International in the first quarter valued at approximately $118,000. Regentatlantic Capital LLC raised its position in Crown Castle International by 58.8% in the first quarter. Regentatlantic Capital LLC now owns 3,024 shares of the real estate investment trust’s stock valued at $520,000 after purchasing an additional 1,120 shares during the period. Wealthcare Advisory Partners LLC purchased a new stake in Crown Castle International in the first quarter valued at approximately $163,000. Greenleaf Trust raised its position in Crown Castle International by 11.4% in the first quarter. Greenleaf Trust now owns 6,868 shares of the real estate investment trust’s stock valued at $1,182,000 after purchasing an additional 702 shares during the period. Finally, IFP Advisors Inc raised its position in Crown Castle International by 8.0% in the first quarter. IFP Advisors Inc now owns 6,701 shares of the real estate investment trust’s stock valued at $1,158,000 after purchasing an additional 499 shares during the period. 90.06% of the stock is currently owned by 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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