UBS Group Cuts Crown Castle (NYSE:CCI) Price Target to $116.00

Crown Castle (NYSE:CCI) had its target price decreased by UBS Group from $127.00 to $116.00 in a research report released on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Crown Castle in a research note on Monday, December 29th. Citigroup lowered their price objective on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Wolfe Research raised shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a report on Monday, September 22nd. Jefferies Financial Group cut their target price on Crown Castle from $102.00 to $90.00 and set a “hold” rating on the stock in a research report on Tuesday, December 16th. Finally, Barclays reaffirmed an “equal weight” rating and set a $101.00 price target (down previously from $104.00) on shares of Crown Castle in a research report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.63.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $86.22 on Tuesday. The business’s 50-day moving average is $88.70 and its 200 day moving average is $95.36. Crown Castle has a 1 year low of $83.21 and a 1 year high of $115.76. The firm has a market capitalization of $37.55 billion, a P/E ratio of -8.11, a P/E/G ratio of 0.56 and a beta of 0.96.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the company earned $1.84 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, analysts expect that Crown Castle will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a dividend of $1.0625 per share. The ex-dividend date was Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.9%. Crown Castle’s dividend payout ratio (DPR) is presently -39.98%.

Institutional Trading of Crown Castle

A number of hedge funds have recently modified their holdings of the stock. Winnow Wealth LLC purchased a new position in shares of Crown Castle during the 2nd quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Crown Castle in the 2nd quarter worth $27,000. NewSquare Capital LLC raised its position in Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 120 shares during the period. LRI Investments LLC acquired a new position in Crown Castle during the third quarter worth $29,000. Finally, Wiser Advisor Group LLC purchased a new position in Crown Castle during the third quarter valued at $29,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.