CCI - Crown Castle Inc.
Price:
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CONSENSUS:
Hold
DETAILS
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PRICE TARGET:
$100.33
DETAILS
HIGH:
$115.00
LOW:
$91.00
MEDIAN:
$95.00
CONSENSUS:
$100.33
UPSIDE:
25.66%
AlphaVal
Deterministic, archetype-aware fair value
Real Estate Investment Trust
85% confidence
Primary model: P/FFO × Specialty REIT Multiple
Adjust Assumptions
27.0x
$
Key Value Driver
FFO/share ($2.60) × specialty P/FFO multiple
Implied Market Multiple
30.8x
Plain-Language Summary
Our base-case estimate uses P/FFO × Specialty REIT Multiple. We then blend that result with the average analyst price target of $100.33 from 46 analysts, using a 30% weight on analyst consensus. That produces an estimated intrinsic value of $79.16 per share.
Warnings
Standard profit figures are misleading for real estate companies — large non-cash accounting charges make profits look artificially low. Dividend yield and funds from operations are better measures.
Dividend yield of 5.3% is unusually high — make sure the company generates enough cash to keep paying it.
Wall Street's average price target is $100.33 (from 46 analysts). Our estimate is 30% below the consensus -- consider that gap carefully.
Key Risks
- P/E and EV/EBITDA are structurally wrong for REITs — use P/FFO and NAV
- Interest rate sensitivity: REIT multiples compress when rates rise
- FFO approximation (NI + D&A) may include gains on property sales — verify