Crown Castle (NYSE:CCI) Price Target Cut to $100.00 by Analysts at Royal Bank of Canada

Crown Castle (NYSE:CCI) had its target price cut by Royal Bank of Canada from $109.00 to $100.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Other research analysts have also issued research reports about the company. Scotiabank decreased their target price on Crown Castle from $133.00 to $118.00 and set a sector perform rating for the company in a research report on Thursday, April 18th. Barclays raised their price objective on Crown Castle from $111.00 to $112.00 and gave the company an equal weight rating in a research report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Crown Castle from $110.00 to $109.00 and set a hold rating on the stock in a research report on Monday, April 22nd. Argus cut shares of Crown Castle from a buy rating to a hold rating in a research report on Friday, April 19th. Finally, BMO Capital Markets cut their price objective on shares of Crown Castle from $110.00 to $105.00 and set a market perform rating on the stock in a report on Thursday, April 18th. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $112.64.

Crown Castle Stock Performance

Shares of CCI stock opened at $96.14 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. The stock has a fifty day moving average of $101.99 and a 200 day moving average of $105.63. The firm has a market capitalization of $41.77 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.59 and a beta of 0.76. Crown Castle has a 52 week low of $84.72 and a 52 week high of $119.60.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. 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 firm posted $1.91 EPS. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. As a group, research analysts expect that Crown Castle will post 6.59 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.51%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend payout ratio is currently 195.63%.

Institutional Investors Weigh In On Crown Castle

Several institutional investors have recently modified their holdings of CCI. Stratos Wealth Partners LTD. lifted its stake in Crown Castle by 30.0% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,268 shares of the real estate investment trust’s stock valued at $485,000 after acquiring an additional 1,217 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Crown Castle by 8.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,858 shares of the real estate investment trust’s stock valued at $14,252,000 after purchasing an additional 12,570 shares during the last quarter. NBT Bank N A NY purchased a new stake in Crown Castle in the third quarter worth approximately $1,380,000. Advisor Partners II LLC grew its position in Crown Castle by 1.9% in the 3rd quarter. Advisor Partners II LLC now owns 9,335 shares of the real estate investment trust’s stock worth $859,000 after purchasing an additional 170 shares during the period. Finally, Catalyst Financial Partners LLC raised its stake in Crown Castle by 6.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 4,163 shares of the real estate investment trust’s stock valued at $383,000 after buying an additional 269 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.