Deutsche Bank Aktiengesellschaft Cuts Crown Castle (NYSE:CCI) Price Target to $96.00

Crown Castle (NYSE:CCI) had its price objective cut by Deutsche Bank Aktiengesellschaft from $116.00 to $96.00 in a report released on Thursday morning. They currently have a hold rating on the real estate investment trust’s stock.

Other analysts have also recently issued research reports about the stock. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. Scotiabank dropped their price target on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research note on Thursday. Wells Fargo & Company reduced their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday. UBS Group increased their target price on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their price target for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $109.80.

Crown Castle Trading Down 0.2 %

Shares of CCI opened at $88.49 on Thursday. The firm has a market cap of $38.46 billion, a P/E ratio of 31.38 and a beta of 0.87. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle has a 1 year low of $84.20 and a 1 year high of $120.92. The company has a 50 day simple moving average of $95.29 and a two-hundred day simple moving average of $105.30.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 7.07%. Crown Castle’s payout ratio is currently 221.99%.

Hedge Funds Weigh In On Crown Castle

A number of hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its position in shares of Crown Castle by 31.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,251 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 301 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of Crown Castle by 17.6% during the second quarter. Public Sector Pension Investment Board now owns 60,432 shares of the real estate investment trust’s stock worth $5,904,000 after purchasing an additional 9,047 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of Crown Castle by 23.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 6,376 shares of the real estate investment trust’s stock valued at $623,000 after purchasing an additional 1,220 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Crown Castle by 60.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 83,218 shares of the real estate investment trust’s stock worth $8,130,000 after purchasing an additional 31,439 shares in the last quarter. Finally, Fred Alger Management LLC grew its stake in Crown Castle by 10.0% during the 2nd quarter. Fred Alger Management LLC now owns 40,218 shares of the real estate investment trust’s stock worth $3,929,000 after buying an additional 3,655 shares during the last quarter. 90.77% of the stock is currently owned by 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.