Crown Castle (NYSE:CCI – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 6.850-6.970 for the period, compared to the consensus earnings per share estimate of 6.880. The company issued revenue guidance of -. Crown Castle also updated its FY24 guidance to $6.85-$6.97 EPS.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on CCI. Royal Bank of Canada boosted their price target on shares of Crown Castle from $92.00 to $109.00 and gave the company a sector perform rating in a report on Wednesday, February 21st. BMO Capital Markets raised shares of Crown Castle from an underperform rating to a market perform rating and upped their target price for the stock from $107.00 to $110.00 in a research note on Friday, January 19th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $118.93.
Crown Castle Stock Performance
Crown Castle Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.565 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.73%. Crown Castle’s dividend payout ratio is currently 180.92%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Almanack Investment Partners LLC. bought a new position in Crown Castle in the 3rd quarter valued at about $28,000. PCA Investment Advisory Services Inc. bought a new position in Crown Castle in the 2nd quarter valued at about $29,000. Main Street Group LTD bought a new position in Crown Castle in the 4th quarter valued at about $30,000. ICA Group Wealth Management LLC bought a new position in Crown Castle in the 4th quarter valued at about $37,000. Finally, Stonebridge Capital Advisors LLC raised its holdings in Crown Castle by 214.1% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 311 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 212 shares during the period. 90.77% of the stock is owned by institutional investors.
Crown Castle Company Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 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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