Barclays Issues Positive Forecast for Crown Castle (NYSE:CCI) Stock Price

Crown Castle (NYSE:CCI) had its price objective upped by Barclays from $119.00 to $120.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the stock. Bank of America started coverage on shares of Crown Castle in a research note on Monday, May 19th. They set a “buy” rating and a $115.00 price target for the company. KeyCorp raised their price target on shares of Crown Castle from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, UBS Group raised their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $116.47.

Crown Castle Stock Performance

NYSE CCI opened at $93.58 on Monday. The stock has a market cap of $40.75 billion, a price-to-earnings ratio of -8.77, a PEG ratio of 0.72 and a beta of 0.92. Crown Castle has a 52-week low of $84.20 and a 52-week high of $120.92. The business has a 50 day simple moving average of $102.51 and a 200 day simple moving average of $101.50.

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

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. Crown Castle’s dividend payout ratio (DPR) is currently -39.83%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CCI. Janus Henderson Group PLC raised its stake in Crown Castle by 3.8% in the fourth quarter. Janus Henderson Group PLC now owns 64,672 shares of the real estate investment trust’s stock valued at $5,869,000 after purchasing an additional 2,396 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Crown Castle in the fourth quarter valued at about $280,000. Man Group plc raised its stake in Crown Castle by 423.1% in the fourth quarter. Man Group plc now owns 53,271 shares of the real estate investment trust’s stock valued at $4,835,000 after purchasing an additional 43,087 shares in the last quarter. Quantinno Capital Management LP raised its stake in Crown Castle by 131.7% in the fourth quarter. Quantinno Capital Management LP now owns 27,505 shares of the real estate investment trust’s stock valued at $2,496,000 after purchasing an additional 15,633 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in Crown Castle in the fourth quarter valued at about $170,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.