CROWN CASTLE In/SH SH (NYSE:CCI) – Equities research analysts at KeyCorp dropped their FY2019 earnings estimates for CROWN CASTLE In/SH SH in a report issued on Monday, October 15th. KeyCorp analyst B. Nispel now anticipates that the real estate investment trust will post earnings of $5.66 per share for the year, down from their previous estimate of $5.70.
Several other equities analysts have also recently issued reports on the company. Barclays lifted their price objective on CROWN CASTLE In/SH SH from $110.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday. TheStreet cut CROWN CASTLE In/SH SH from a “b” rating to a “c+” rating in a research note on Wednesday. UBS Group set a $120.00 price objective on CROWN CASTLE In/SH SH and gave the company a “buy” rating in a research note on Friday, September 28th. Morgan Stanley lifted their price objective on CROWN CASTLE In/SH SH from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, August 16th. Finally, Zacks Investment Research cut CROWN CASTLE In/SH SH from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $117.64.
CROWN CASTLE In/SH SH (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 17th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.06. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.35 billion. CROWN CASTLE In/SH SH had a return on equity of 4.20% and a net margin of 10.07%. The business’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCI. Principal Financial Group Inc. increased its position in CROWN CASTLE In/SH SH by 19.6% during the first quarter. Principal Financial Group Inc. now owns 2,331,425 shares of the real estate investment trust’s stock worth $255,547,000 after buying an additional 382,362 shares during the period. Guggenheim Capital LLC increased its position in CROWN CASTLE In/SH SH by 2.2% during the first quarter. Guggenheim Capital LLC now owns 443,210 shares of the real estate investment trust’s stock worth $48,580,000 after buying an additional 9,456 shares during the period. NEXT Financial Group Inc increased its position in CROWN CASTLE In/SH SH by 28.3% during the first quarter. NEXT Financial Group Inc now owns 3,057 shares of the real estate investment trust’s stock worth $335,000 after buying an additional 675 shares during the period. McKinley Carter Wealth Services Inc. acquired a new position in CROWN CASTLE In/SH SH during the first quarter worth approximately $137,000. Finally, Xact Kapitalforvaltning AB increased its position in CROWN CASTLE In/SH SH by 6.5% during the first quarter. Xact Kapitalforvaltning AB now owns 61,164 shares of the real estate investment trust’s stock worth $6,704,000 after buying an additional 3,728 shares during the period. 94.84% of the stock is currently owned by institutional investors.
In other CROWN CASTLE In/SH SH news, Director J Landis Martin bought 6,100 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were acquired at an average price of $110.14 per share, with a total value of $671,854.00. Following the transaction, the director now owns 107,822 shares of the company’s stock, valued at $11,875,515.08. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert E. Garrison II sold 2,451 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $113.96, for a total value of $279,315.96. Following the sale, the director now directly owns 23,100 shares in the company, valued at approximately $2,632,476. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be given a dividend of $1.125 per share. This represents a $4.50 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Thursday, December 13th. This is a positive change from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05. CROWN CASTLE In/SH SH’s dividend payout ratio (DPR) is 86.60%.
About CROWN CASTLE In/SH SH
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 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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