Crown Castle (NYSE:CCI) Price Target Lowered to $109.00 at Deutsche Bank Aktiengesellschaft

Crown Castle (NYSE:CCIFree Report) had its price target reduced by Deutsche Bank Aktiengesellschaft from $110.00 to $109.00 in a research report released on Monday, Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the stock. Argus downgraded shares of Crown Castle from a buy rating to a hold rating in a research report on Friday. Scotiabank cut their price objective 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 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. Royal Bank of Canada lifted their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the stock a sector perform rating in a report on Wednesday, February 21st. Finally, Bank of America cut their price objective on shares of Crown Castle from $120.00 to $105.00 and set a neutral rating on the stock in a report on Friday. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle presently has an average rating of Hold and a consensus target price of $113.57.

View Our Latest Research Report on Crown Castle

Crown Castle Stock Performance

NYSE CCI opened at $95.08 on Monday. The company has a fifty day simple moving average of $104.62 and a 200 day simple moving average of $105.37. Crown Castle has a 12-month low of $84.72 and a 12-month high of $128.27. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 3.73. The company has a market cap of $41.31 billion, a P/E ratio of 29.71, a PEG ratio of 2.53 and a beta of 0.73.

Crown Castle (NYSE:CCIGet Free Report) last posted its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. Sell-side analysts predict that Crown Castle will post 6.59 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.58%. 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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dakota Community Bank & Trust NA raised its stake in Crown Castle by 4.2% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock valued at $204,000 after acquiring an additional 90 shares during the period. Valley National Advisers Inc. raised its stake in Crown Castle by 51.1% in the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 97 shares during the period. Pinnacle Bancorp Inc. raised its stake in Crown Castle by 17.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 677 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 100 shares during the period. Waterfront Wealth Inc. raised its stake in Crown Castle by 1.9% in the 4th quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock valued at $635,000 after acquiring an additional 101 shares during the period. Finally, Raleigh Capital Management Inc. increased its position in shares of Crown Castle by 0.5% during the third quarter. Raleigh Capital Management Inc. now owns 18,986 shares of the real estate investment trust’s stock valued at $1,747,000 after buying an additional 103 shares during the period. 90.77% of the stock is currently owned by institutional investors.

About Crown Castle

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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.

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Analyst Recommendations for Crown Castle (NYSE:CCI)

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