Crown Castle International Corporation (NYSE:CCI) had its price target upped by Deutsche Bank AG from $117.00 to $120.00 in a research report report published on Friday morning. They currently have a buy rating on the real estate investment trust’s stock.
Several other research firms have also recently weighed in on CCI. UBS AG cut Crown Castle International Corporation from an outperform rating to a market perform rating in a research note on Monday, October 16th. BidaskClub raised Crown Castle International Corporation from a buy rating to a strong-buy rating in a research note on Wednesday, August 23rd. Barclays PLC lifted their target price on Crown Castle International Corporation from $101.00 to $105.00 and gave the company an equal weight rating in a research note on Friday, October 20th. Oppenheimer Holdings, Inc. reaffirmed a market perform rating on shares of Crown Castle International Corporation in a research note on Monday, October 16th. Finally, Zacks Investment Research cut Crown Castle International Corporation from a buy rating to a hold rating in a research note on Thursday, July 27th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $110.29.
Crown Castle International Corporation (CCI) traded down $1.10 during trading hours on Friday, reaching $110.02. The company’s stock had a trading volume of 2,639,248 shares, compared to its average volume of 2,394,570. The company has a current ratio of 7.13, a quick ratio of 7.13 and a debt-to-equity ratio of 1.19. Crown Castle International Corporation has a 52 week low of $80.82 and a 52 week high of $114.97. The stock has a market cap of $45,730.00, a PE ratio of 23.87, a PEG ratio of 1.65 and a beta of 0.20.
Crown Castle International Corporation (NYSE:CCI) last released its earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.07). Crown Castle International Corporation had a net margin of 11.35% and a return on equity of 5.93%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm earned $1.09 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. sell-side analysts forecast that Crown Castle International Corporation will post 4.43 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 3.82%. This is a positive change from Crown Castle International Corporation’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Thursday, December 14th. Crown Castle International Corporation’s payout ratio is currently 316.67%.
In related news, VP Philip M. Kelley sold 10,551 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $113.09, for a total value of $1,193,212.59. Following the completion of the sale, the vice president now directly owns 91,808 shares in the company, valued at approximately $10,382,566.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CCI. Dimensional Fund Advisors LP lifted its holdings in Crown Castle International Corporation by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 149,445 shares of the real estate investment trust’s stock worth $14,115,000 after purchasing an additional 3,003 shares during the last quarter. Highland Capital Management LLC acquired a new stake in Crown Castle International Corporation in the 2nd quarter worth approximately $326,000. Ranger Global Real Estate Advisors LLC acquired a new stake in Crown Castle International Corporation in the 2nd quarter worth approximately $4,846,000. Real Estate Management Services LLC lifted its holdings in Crown Castle International Corporation by 319.6% in the 2nd quarter. Real Estate Management Services LLC now owns 152,300 shares of the real estate investment trust’s stock worth $15,257,000 after purchasing an additional 116,000 shares during the last quarter. Finally, BB&T Corp lifted its holdings in Crown Castle International Corporation by 42.6% in the 2nd quarter. BB&T Corp now owns 127,764 shares of the real estate investment trust’s stock worth $12,800,000 after purchasing an additional 38,185 shares during the last quarter. Hedge funds and other institutional investors own 83.80% of the company’s stock.
Crown Castle International Corporation Company Profile
Castle International Corp. (CCIC) is a real estate investment trust (REIT) company. The Company owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers), and to a lesser extent, distributed antenna systems (DAS), a type of small cell network (small cells), and interests in land under third party towers in various forms (third party land interests).
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