Crown Castle (NYSE:CCI) Upgraded to “Outperform” at BMO Capital Markets

BMO Capital Markets upgraded shares of Crown Castle (NYSE:CCI) from a market perform rating to an outperform rating in a research note released on Tuesday, MarketBeat reports. BMO Capital Markets currently has $120.00 price target on the real estate investment trust’s stock, up from their previous price target of $115.00.

Several other research firms have also issued reports on CCI. JPMorgan Chase & Co. increased their price objective on shares of Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Scotiabank increased their price objective on shares of Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Royal Bank Of Canada increased their price objective on shares of Crown Castle from $112.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $105.00 to $125.00 in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

Crown Castle Stock Up 1.8%

NYSE:CCI opened at $102.3110 on Tuesday. The company has a market cap of $44.55 billion, a P/E ratio of -9.59, a P/E/G ratio of 0.76 and a beta of 0.89. Crown Castle has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The firm’s 50 day moving average is $103.64 and its two-hundred day moving average is $100.44.

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

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle’s dividend payout ratio (DPR) is presently -39.83%.

Institutional Investors Weigh In On Crown Castle

A number of large investors have recently added to or reduced their stakes in CCI. Opal Wealth Advisors LLC acquired a new position in Crown Castle during the 1st quarter worth $26,000. Iron Horse Wealth Management LLC acquired a new position in Crown Castle during the 1st quarter worth $26,000. Centerpoint Advisors LLC acquired a new position in Crown Castle during the 1st quarter worth $26,000. Winnow Wealth LLC acquired a new position in Crown Castle during the 2nd quarter worth $26,000. Finally, Stone House Investment Management LLC acquired a new position in Crown Castle during the 1st quarter worth $27,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Company Profile

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.