Morgan Stanley Boosts CROWN CASTLE IN/SH SH (CCI) Price Target to $129.00

CROWN CASTLE IN/SH SH (NYSE:CCI) had its price objective increased by Morgan Stanley from $120.00 to $129.00 in a report issued on Monday. The firm currently has an overweight rating on the real estate investment trust’s stock.

Other research analysts have also issued research reports about the stock. TheStreet upgraded shares of CROWN CASTLE IN/SH SH from a c+ rating to a b rating in a research note on Wednesday, January 23rd. Zacks Investment Research upgraded shares of CROWN CASTLE IN/SH SH from a sell rating to a hold rating in a research note on Tuesday, January 15th. Macquarie lowered shares of CROWN CASTLE IN/SH SH from an outperform rating to a neutral rating in a research note on Tuesday, February 12th. Goldman Sachs Group lowered shares of CROWN CASTLE IN/SH SH from a buy rating to a neutral rating and set a $110.00 price objective on the stock. in a research note on Monday, January 14th. Finally, Moffett Nathanson lowered shares of CROWN CASTLE IN/SH SH from a buy rating to a neutral rating and set a $118.00 price objective on the stock. in a research note on Monday, December 3rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $119.30.

Shares of CROWN CASTLE IN/SH SH stock opened at $124.01 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.38. CROWN CASTLE IN/SH SH has a 12-month low of $98.85 and a 12-month high of $125.66. The company has a market cap of $51.95 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 1.43 and a beta of 0.41.

CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its quarterly earnings results on Wednesday, January 23rd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.44. CROWN CASTLE IN/SH SH had a net margin of 11.86% and a return on equity of 5.17%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. The company’s revenue was up 14.6% compared to the same quarter last year. Research analysts forecast that CROWN CASTLE IN/SH SH will post 5.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a $1.125 dividend. The ex-dividend date is Thursday, March 14th. This represents a $4.50 dividend on an annualized basis and a dividend yield of 3.63%. CROWN CASTLE IN/SH SH’s payout ratio is currently 82.12%.

In related news, SVP Michael Joseph Kavanagh sold 2,500 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $120.06, for a total transaction of $300,150.00. Following the sale, the senior vice president now directly owns 38,471 shares of the company’s stock, valued at $4,618,828.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward C. Hutcheson, Jr. purchased 350 shares of the stock in a transaction that occurred on Friday, February 8th. The shares were purchased at an average cost of $117.95 per share, for a total transaction of $41,282.50. Following the completion of the acquisition, the director now directly owns 59,187 shares of the company’s stock, valued at approximately $6,981,106.65. The disclosure for this purchase can be found here. 0.36% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Investment Advisory Services LLC purchased a new stake in CROWN CASTLE IN/SH SH during the fourth quarter worth $26,000. Covington Capital Management purchased a new stake in CROWN CASTLE IN/SH SH during the fourth quarter worth $29,000. Athena Capital Advisors LLC purchased a new stake in CROWN CASTLE IN/SH SH during the fourth quarter worth $33,000. Doyle Wealth Management purchased a new stake in CROWN CASTLE IN/SH SH during the fourth quarter worth $33,000. Finally, Quantamental Technologies LLC purchased a new stake in CROWN CASTLE IN/SH SH during the fourth quarter worth $42,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

About CROWN CASTLE IN/SH SH

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 65,000 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.

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Analyst Recommendations for CROWN CASTLE IN/SH SH (NYSE:CCI)

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