Crown Castle (NYSE:CCI) Upgraded at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Crown Castle (NYSE:CCI) from a sector perform rating to an outperform rating in a research note released on Wednesday morning, Marketbeat.com reports. The brokerage currently has $112.00 target price on the real estate investment trust’s stock, down from their previous target price of $113.00.

CCI has been the subject of several other research reports. Wells Fargo & Company raised Crown Castle from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $105.00 to $125.00 in a report on Thursday, July 24th. Raymond James Financial reiterated a “strong-buy” rating and issued a $124.00 price target (up from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Barclays upped their price objective on Crown Castle from $119.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. Finally, JMP Securities reissued a “market outperform” rating and set a $125.00 target price on shares of Crown Castle in a research note on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $115.76.

Crown Castle Trading Up 0.1%

CCI opened at $95.57 on Wednesday. The company’s 50 day moving average is $99.36 and its 200 day moving average is $101.14. The company has a market cap of $41.62 billion, a price-to-earnings ratio of -8.96, a PEG ratio of 0.73 and a beta of 0.95. Crown Castle has a 12-month low of $84.20 and a 12-month high of $115.89.

Crown Castle (NYSE:CCI) last released 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. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm earned $1.62 earnings per share. The company’s quarterly 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. As a group, analysts predict that Crown Castle will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, September 15th. Crown Castle’s dividend payout ratio is -39.83%.

Institutional Investors Weigh In On Crown Castle

Large investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC bought a new position in Crown Castle during the first quarter valued at $26,000. Iron Horse Wealth Management LLC bought a new position in shares of Crown Castle in the 1st quarter valued at about $26,000. Centerpoint Advisors LLC purchased a new position in Crown Castle in the first quarter worth about $26,000. Winnow Wealth LLC purchased a new position in Crown Castle in the second quarter worth about $26,000. Finally, Stone House Investment Management LLC bought a new stake in Crown Castle during the first quarter worth approximately $27,000. Institutional investors 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.