Crown Castle (NYSE:CCI) Price Target Cut to $100.00 by Analysts at Wells Fargo & Company

Crown Castle (NYSE:CCI) had its price objective reduced by Wells Fargo & Company from $115.00 to $100.00 in a report published on Friday morning, Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Several other analysts also recently weighed in on CCI. 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 research report on Thursday, April 18th. Jefferies Financial Group cut their price objective on shares of Crown Castle from $126.00 to $123.00 and set a buy rating on the stock in a research report on Thursday, April 18th. Argus downgraded shares of Crown Castle from a buy rating to a hold rating in a research report on Friday. Royal Bank of Canada boosted their price target 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. Finally, Bank of America dropped their price target on shares of Crown Castle from $120.00 to $105.00 and set a neutral rating on the stock in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Crown Castle currently has an average rating of Hold and a consensus price target of $113.57.

Crown Castle Trading Down 0.1 %

Shares of NYSE:CCI opened at $95.08 on Friday. The company has a market cap of $41.31 billion, a PE ratio of 29.71, a P/E/G ratio of 2.53 and a beta of 0.73. The company’s 50-day moving average price is $104.62 and its 200 day moving average price is $105.37. Crown Castle has a fifty-two week low of $84.72 and a fifty-two week high of $128.27. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 3.73.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.92). The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.91 earnings per share. Sell-side analysts anticipate that Crown Castle will post 6.59 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.58%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend payout ratio (DPR) is currently 195.63%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CCI. Riverview Trust Co increased its position in shares of Crown Castle by 108.5% in the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 140 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Crown Castle in the fourth quarter worth approximately $25,000. Operose Advisors LLC purchased a new position in shares of Crown Castle in the third quarter worth approximately $30,000. Gables Capital Management Inc. increased its position in shares of Crown Castle by 164.0% in the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 164 shares in the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in shares of Crown Castle in the fourth quarter worth approximately $30,000. 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.