CROWN CASTLE IN/SH SH (NYSE:CCI) had its price objective raised by Wells Fargo & Co from $185.00 to $188.00 in a research note released on Friday, BenzingaRatingsTable reports. Wells Fargo & Co currently has an overweight rating on the real estate investment trust’s stock.

A number of other analysts also recently issued reports on the company. Credit Suisse Group began coverage on CROWN CASTLE IN/SH SH in a research report on Tuesday, April 28th. They issued a neutral rating and a $149.00 target price for the company. Morgan Stanley raised their target price on CROWN CASTLE IN/SH SH from $177.00 to $179.00 and gave the stock an overweight rating in a research report on Monday, June 1st. Royal Bank of Canada reissued a buy rating on shares of CROWN CASTLE IN/SH SH in a research report on Thursday, May 7th. New Street Research raised CROWN CASTLE IN/SH SH from a reduce rating to a neutral rating in a research report on Thursday, March 12th. Finally, Deutsche Bank assumed coverage on CROWN CASTLE IN/SH SH in a research report on Friday, June 5th. They issued a hold rating and a $180.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $163.75.

Shares of CROWN CASTLE IN/SH SH stock opened at $166.91 on Friday. The business’s fifty day simple moving average is $168.05 and its 200 day simple moving average is $155.61. The firm has a market capitalization of $71.47 billion, a P/E ratio of 87.39, a price-to-earnings-growth ratio of 1.41 and a beta of 0.35. CROWN CASTLE IN/SH SH has a 12 month low of $114.18 and a 12 month high of $180.00. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 2.30.

CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.11). The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.44 billion. CROWN CASTLE IN/SH SH had a return on equity of 8.39% and a net margin of 15.59%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 earnings per share. Analysts predict that CROWN CASTLE IN/SH SH will post 5.79 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 12th were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.88%. The ex-dividend date was Thursday, June 11th. CROWN CASTLE IN/SH SH’s payout ratio is 84.36%.

In related news, VP Robert Sean Collins sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $174.09, for a total transaction of $348,180.00. Following the completion of the transaction, the vice president now directly owns 5,634 shares in the company, valued at $980,823.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael Joseph Kavanagh sold 5,000 shares of CROWN CASTLE IN/SH SH stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $153.86, for a total value of $769,300.00. Following the sale, the executive vice president now directly owns 47,767 shares of the company’s stock, valued at approximately $7,349,430.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,000 shares of company stock valued at $2,125,480. 0.47% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Louisiana State Employees Retirement System lifted its stake in CROWN CASTLE IN/SH SH by 1.1% during the second quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the real estate investment trust’s stock worth $2,996,000 after purchasing an additional 200 shares during the last quarter. Teamwork Financial Advisors LLC lifted its stake in CROWN CASTLE IN/SH SH by 44.1% during the second quarter. Teamwork Financial Advisors LLC now owns 11,188 shares of the real estate investment trust’s stock worth $1,872,000 after purchasing an additional 3,425 shares during the last quarter. Gofen & Glossberg LLC IL lifted its stake in CROWN CASTLE IN/SH SH by 111.8% during the second quarter. Gofen & Glossberg LLC IL now owns 7,446 shares of the real estate investment trust’s stock worth $1,246,000 after purchasing an additional 3,930 shares during the last quarter. Vigilant Capital Management LLC lifted its stake in CROWN CASTLE IN/SH SH by 0.3% during the second quarter. Vigilant Capital Management LLC now owns 108,654 shares of the real estate investment trust’s stock worth $18,183,000 after purchasing an additional 330 shares during the last quarter. Finally, Manning & Napier Group LLC lifted its stake in CROWN CASTLE IN/SH SH by 17.2% during the second quarter. Manning & Napier Group LLC now owns 51,380 shares of the real estate investment trust’s stock worth $8,596,000 after purchasing an additional 7,555 shares during the last quarter. 90.90% of the stock is 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 70,000 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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