Crown Castle (NYSE:CCI) Price Target Raised to $117.00

Crown Castle (NYSE:CCI) had its target price increased by The Goldman Sachs Group from $115.00 to $117.00 in a research report sent to investors on Thursday morning,MarketScreener reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other analysts have also issued reports on CCI. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. KeyCorp dropped their price objective on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. Barclays raised their target price on Crown Castle from $119.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price for the company in a research note on Monday, September 22nd. Finally, Wells Fargo & Company cut their target price on Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Crown Castle has an average rating of “Moderate Buy” and a consensus price target of $113.12.

Crown Castle Price Performance

Shares of CCI opened at $98.58 on Thursday. The firm has a market cap of $42.93 billion, a PE ratio of -9.27, a PEG ratio of 0.74 and a beta of 0.95. The stock’s fifty day moving average price is $97.03 and its two-hundred day moving average price is $100.62. Crown Castle has a 1 year low of $84.20 and a 1 year high of $115.76.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.08. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The business’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Sell-side analysts anticipate that Crown Castle will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, September 15th. Crown Castle’s dividend payout ratio is presently -39.98%.

Hedge Funds Weigh In On Crown Castle

Hedge funds and other institutional investors have recently modified their holdings of the company. Iron Horse Wealth Management LLC bought a new position in shares of Crown Castle in the 1st quarter worth approximately $26,000. Centerpoint Advisors LLC bought a new position in shares of Crown Castle in the 1st quarter worth approximately $26,000. Winnow Wealth LLC bought a new position in shares of Crown Castle in the 2nd quarter worth approximately $26,000. Stone House Investment Management LLC bought a new position in shares of Crown Castle in the 1st quarter worth approximately $27,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Crown Castle in the 2nd quarter worth approximately $27,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

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.