Crown Castle Inc. (NYSE:CCI) Receives $111.35 Consensus Price Target from Brokerages

Shares of Crown Castle Inc. (NYSE:CCI) have been assigned an average rating of “Moderate Buy” from the twenty brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, nine have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $111.3529.

Several brokerages have recently issued reports on CCI. Wells Fargo & Company lowered their price target on Crown Castle from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crown Castle in a report on Monday. Barclays reiterated an “equal weight” rating and set a $101.00 price target (down from $104.00) on shares of Crown Castle in a report on Monday, December 1st. The Goldman Sachs Group raised their price objective on shares of Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Finally, Citigroup cut their target price on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, October 16th.

Insider Transactions at Crown Castle

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the transaction, the executive vice president directly owned 65,571 shares in the company, valued at $6,431,203.68. The trade was a 31.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.10% of the stock is owned by corporate insiders.

Institutional Trading of Crown Castle

Several institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB lifted its position in Crown Castle by 0.9% in the second quarter. Wilmington Savings Fund Society FSB now owns 10,274 shares of the real estate investment trust’s stock worth $1,055,000 after purchasing an additional 93 shares during the period. Creative Financial Designs Inc. ADV boosted its position in shares of Crown Castle by 47.8% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 98 shares in the last quarter. Whittier Trust Co. increased its stake in Crown Castle by 5.6% in the second quarter. Whittier Trust Co. now owns 2,046 shares of the real estate investment trust’s stock valued at $210,000 after acquiring an additional 109 shares during the period. Harbor Capital Advisors Inc. raised its position in Crown Castle by 24.0% in the third quarter. Harbor Capital Advisors Inc. now owns 599 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 116 shares in the last quarter. Finally, NewSquare Capital LLC lifted its stake in Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Down 0.3%

Shares of Crown Castle stock opened at $88.86 on Tuesday. Crown Castle has a 12-month low of $84.20 and a 12-month high of $115.76. The stock has a 50 day moving average price of $90.13 and a two-hundred day moving average price of $96.81. The stock has a market capitalization of $38.70 billion, a P/E ratio of -8.36, a PEG ratio of 0.66 and a beta of 0.94.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company earned $1.84 earnings per share. Crown Castle’s revenue for the quarter was down 4.3% on a year-over-year basis. 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 year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Monday, December 15th. Crown Castle’s dividend payout ratio (DPR) is presently -39.98%.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.