Crown Castle (NYSE:CCI) Price Target Cut to $105.00 by Analysts at Bank of America

Crown Castle (NYSE:CCI) had its price objective decreased by Bank of America from $120.00 to $105.00 in a report issued on Friday morning, Benzinga reports. Bank of America currently has a neutral rating on the real estate investment trust’s stock.

Several other equities analysts have also recently issued reports on CCI. Jefferies Financial Group decreased their price objective on shares of Crown Castle from $126.00 to $123.00 and set a buy rating for the company in a report on Thursday, April 18th. Scotiabank cut their target price on shares of Crown Castle from $133.00 to $118.00 and set a sector perform rating on the stock in a report on Thursday, April 18th. BMO Capital Markets dropped their price target on Crown Castle from $110.00 to $105.00 and set a market perform rating on the stock in a research report on Thursday, April 18th. Argus lowered Crown Castle from a buy rating to a hold rating in a research report on Friday. Finally, Royal Bank of Canada upped their price objective on Crown Castle from $92.00 to $109.00 and gave the stock a sector perform rating in a research note on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Crown Castle presently has a consensus rating of Hold and an average target price of $113.57.

Crown Castle Trading Down 0.1 %

NYSE CCI opened at $95.08 on Friday. The company has a market capitalization of $41.31 billion, a price-to-earnings ratio of 29.71, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40. Crown Castle has a 12 month low of $84.72 and a 12 month high of $128.27. The company’s fifty day moving average price is $104.62 and its two-hundred day moving average price is $105.37.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the business posted $1.91 EPS. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. As a group, research analysts predict that Crown Castle will post 6.59 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $1.565 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.58%. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Hedge Funds Weigh In On Crown Castle

Hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its position in Crown Castle by 6.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 217,927 shares of the real estate investment trust’s stock worth $23,063,000 after acquiring an additional 12,283 shares in the last quarter. Stonegate Investment Group LLC raised its holdings in shares of Crown Castle by 10.8% in the 1st quarter. Stonegate Investment Group LLC now owns 15,481 shares of the real estate investment trust’s stock worth $1,638,000 after purchasing an additional 1,509 shares in the last quarter. PFG Investments LLC lifted its stake in Crown Castle by 481.1% during the first quarter. PFG Investments LLC now owns 10,100 shares of the real estate investment trust’s stock valued at $1,069,000 after purchasing an additional 8,362 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in Crown Castle by 4.1% during the first quarter. Ashton Thomas Private Wealth LLC now owns 25,724 shares of the real estate investment trust’s stock worth $2,722,000 after buying an additional 1,015 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its position in Crown Castle by 1.4% in the first quarter. Maryland State Retirement & Pension System now owns 404,214 shares of the real estate investment trust’s stock worth $42,778,000 after buying an additional 5,698 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 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.