NEW YORK (TheStreet) -- Shares of Crown Castle International Corp (CCI) are higher by 1.14% to $79.01 in early market trading after the real estate investment trust company had its rating raised to "buy" from "neutral" by analysts at Goldman Sachs this morning.
Goldman Sachs analysts raised its price target for shares to $94 from $86, and cited an attractive yield following the Houston, TX-based company's announced dividend increase last week.
The company announced a quarterly dividend scheduled for December 31 of 82 cents per share, up from its previous quarterly dividend of 35 cents per share. This represents a $3.28 annualized dividend and a dividend yield of 4.20%.
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Also, Crown Castle had its rating cut to "neutral" from "buy" by equities research analysts at Nomura this morning.
Crown Castle owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops and antenna systems.
Separately, TheStreet Ratings team rates CROWN CASTLE INTL CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate CROWN CASTLE INTL CORP (CCI) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, increase in stock price during the past year, compelling growth in net income and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."