Crown Castle International (NYSE: CCI – Get Rating) had its price objective decreased by Morgan Stanley from $ 215.00 to $ 200.00 in a research note published on Tuesday morning, Stock Target Advisor reports. Morgan Stanley currently has an overweight rating on the real estate investment trust’s stock.
Several other research analysts also recently commented on the company. Credit Suisse Group raised their target price on Crown Castle International from $ 204.00 to $ 215.00 and gave the stock an outperform rating in a research note on Friday, April 22nd. StockNews.com started coverage on Crown Castle International in a research note on Thursday, March 31st. They issued a buy rating for the company. Wells Fargo & Company downgraded Crown Castle International from an equal weight rating to an underweight rating and set a $ 180.00 target price for the company. in a research note on Thursday, June 2nd. Raymond James raised their target price on Crown Castle International from $ 184.00 to $ 206.00 and gave the stock an outperform rating in a research note on Friday, April 22nd. Finally, Barclays dropped their price target on Crown Castle International from € 222.00 ($ 238.71) to € 214.00 ($ 230.11) in a research report on Friday, March 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $ 202.71.
Shares of NYSE: CCI opened at $ 185.96 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 2.62. The stock’s fifty day simple moving average is $ 186.98 and its two-hundred day simple moving average is $ 184.33. Crown Castle International has a 1-year low of $ 157.16 and a 1-year high of $ 209.87. The stock has a market cap of $ 80.53 billion, a PE ratio of 55.35 and a beta of 0.53.
Crown Castle International (NYSE: CCI – Get Rating) last announced its earnings results on Wednesday, April 20th. The real estate investment trust reported $ 0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 0.94 by $ 0.03. Crown Castle International had a return on equity of 17.40% and a net margin of 22.12%. The firm had revenue of $ 1.74 billion during the quarter, compared to analyst estimates of $ 1.70 billion. During the same period last year, the firm posted $ 1.71 EPS. The business’s revenue was up 17.3% compared to the same quarter last year. On average, sell-side analysts forecast that Crown Castle International will post 7.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be given a $ 1.47 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $ 5.88 dividend on an annualized basis and a yield of 3.16%. Crown Castle International’s payout ratio is 175.00%.
In other Crown Castle International news, VP Robert Sean Collins sold 1,000 shares of Crown Castle International stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $ 185.44, for a total value of $ 185,440.00. Following the transaction, the vice president now directly owns 10,082 shares of the company stock, valued at approximately $ 1,869,606.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Joseph Kavanagh sold 5,000 shares of Crown Castle International stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $ 191.02, for a total value of $ 955,100.00. Following the completion of the transaction, the executive vice president now directly owns 73,670 shares in the company, valued at $ 14,072,443.40. The disclosure for this sale can be found here. Insiders sold a total of 19,500 shares of company stock valued at $ 3,702,255 in the last 90 days. 0.47% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Crown Castle International by 15.3% in the fourth quarter. BlackRock Inc. now owns 37,010,877 shares of the real estate investment trust’s stock worth $ 7,725,650,000 after acquiring an additional 4,919,828 shares in the last quarter. Norges Bank purchased a new stake in Crown Castle International during the fourth quarter valued at $ 815,548,000. State Street Corp increased its position in Crown Castle International by 6.4% during the first quarter. State Street Corp now owns 20,925,592 shares of the real estate investment trust’s stock valued at $ 3,862,864,000 after acquiring an additional 1,261,426 shares during the last quarter. Vanguard Group Inc. increased its position in Crown Castle International by 1.8% during the first quarter. Vanguard Group Inc. now owns 56,909,352 shares of the real estate investment trust’s stock valued at $ 10,505,466,000 after acquiring an additional 1,015,352 shares during the last quarter. Finally, Morgan Stanley increased its position in Crown Castle International by 9.9% in the second quarter. Morgan Stanley now owns 9,536,422 shares of the real estate investment trust’s stock worth $ 1,860,558,000 after buying an additional 856,986 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.
About Crown Castle International: (Get Rating)
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 route miles of fiber supporting small cells and fiber solutions across every major US 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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