Crown Castle (NYSE:CCI) PT Lowered to $105.00 at BMO Capital Markets

Crown Castle (NYSE:CCI) had its target price trimmed by BMO Capital Markets from $110.00 to $105.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has a market perform rating on the real estate investment trust’s stock.

Separately, Royal Bank of Canada increased their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the stock a sector perform rating in a research report on Wednesday, February 21st. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $119.40.

Crown Castle Trading Up 1.4 %

Shares of NYSE CCI opened at $94.37 on Thursday. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.40 and a current ratio of 0.40. Crown Castle has a 52-week low of $84.72 and a 52-week high of $134.09. The firm has a 50 day moving average price of $105.15 and a two-hundred day moving average price of $105.07. The stock has a market cap of $41.01 billion, a P/E ratio of 29.49, a price-to-earnings-growth ratio of 2.48 and a beta of 0.73.

Crown Castle (NYSE:CCI) last announced 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 20.78%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the company posted $1.91 earnings per share. The company’s revenue was down 7.4% compared to the same quarter last year. As a group, equities analysts forecast that Crown Castle will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.63%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is 195.63%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Morgan Stanley lifted its stake in shares of Crown Castle by 8.9% in the third quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after buying an additional 1,064,382 shares in the last quarter. FMR LLC lifted its stake in shares of Crown Castle by 14.3% in the third quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock valued at $1,098,526,000 after buying an additional 1,496,330 shares in the last quarter. Cohen & Steers Inc. lifted its stake in shares of Crown Castle by 7.9% in the fourth quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock valued at $1,310,559,000 after buying an additional 834,198 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Crown Castle by 11.1% in the fourth quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock valued at $1,297,147,000 after buying an additional 1,126,394 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Crown Castle by 1.3% in the first quarter. Geode Capital Management LLC now owns 9,046,249 shares of the real estate investment trust’s stock valued at $1,208,030,000 after buying an additional 118,306 shares in the last quarter. 90.77% of the stock is 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.