Crown Castle Inc. (NYSE:CCI) Receives $115.76 Average PT from Brokerages

Shares of Crown Castle Inc. (NYSE:CCI) have earned a consensus rating of “Moderate Buy” from the nineteen brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $113.4375.

A number of equities research analysts have recently commented on the stock. Raymond James Financial reaffirmed a “strong-buy” rating and set a $124.00 price objective (up previously from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Barclays raised their price target on shares of Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Wolfe Research raised shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price on the stock in a research note on Monday, September 22nd. Citigroup cut their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Wells Fargo & Company reduced their price target on Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Monday.

Hedge Funds Weigh In On Crown Castle

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in Crown Castle by 18.9% in the 1st quarter. GAMMA Investing LLC now owns 5,769 shares of the real estate investment trust’s stock valued at $601,000 after buying an additional 916 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Crown Castle by 7.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 258,299 shares of the real estate investment trust’s stock valued at $26,922,000 after acquiring an additional 18,261 shares in the last quarter. Cyndeo Wealth Partners LLC acquired a new stake in shares of Crown Castle in the first quarter worth approximately $203,000. Janney Montgomery Scott LLC increased its position in shares of Crown Castle by 0.5% during the first quarter. Janney Montgomery Scott LLC now owns 254,957 shares of the real estate investment trust’s stock worth $26,574,000 after purchasing an additional 1,240 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new position in Crown Castle in the 1st quarter valued at $213,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

NYSE:CCI opened at $98.90 on Thursday. The firm’s fifty day moving average is $97.30 and its two-hundred day moving average is $100.58. The firm has a market cap of $43.07 billion, a price-to-earnings ratio of -9.27, a PEG ratio of 0.74 and a beta of 0.95. Crown Castle has a one year low of $84.20 and a one year high of $115.76.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, equities research analysts predict that Crown Castle will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $1.0625 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.3%. Crown Castle’s dividend payout ratio (DPR) is currently -39.83%.

About Crown Castle

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.