Crown Castle (NYSE:CCI) Hits New 52-Week Low – Here’s Why

Crown Castle Inc. (NYSE:CCI)’s share price hit a new 52-week low on Thursday . The stock traded as low as $91.86 and last traded at $92.35, with a volume of 234508 shares traded. The stock had previously closed at $92.90.

Analyst Ratings Changes

A number of equities research analysts have commented on CCI shares. JPMorgan Chase & Co. raised their target price on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Citigroup set a $128.00 target price on Crown Castle in a research report on Thursday, October 17th. Barclays raised their price target on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. The Goldman Sachs Group increased their target price on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Finally, TD Cowen reduced their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. One research 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $117.00.

Crown Castle Stock Performance

The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The business has a 50 day moving average price of $104.76 and a 200 day moving average price of $106.83. The stock has a market cap of $39.40 billion, a P/E ratio of 32.15 and a beta of 0.86.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the company earned $1.77 EPS. The business’s revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.90%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

Institutional Trading of Crown Castle

A number of hedge funds have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC bought a new stake in Crown Castle during the third quarter valued at about $25,000. Rosenberg Matthew Hamilton raised its stake in shares of Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 136 shares in the last quarter. Asset Dedication LLC lifted its position in Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares during the last quarter. New Millennium Group LLC acquired a new stake in Crown Castle in the second quarter valued at approximately $34,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Crown Castle in the third quarter worth $47,000. 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.