Crown Castle (NYSE:CCI) Hits New 1-Year Low – Here’s What Happened

Crown Castle Inc. (NYSE:CCI) shares reached a new 52-week low during trading on Monday . The stock traded as low as $88.64 and last traded at $88.68, with a volume of 1572062 shares traded. The stock had previously closed at $89.99.

Analysts Set New Price Targets

Several equities analysts have issued reports on CCI shares. The Goldman Sachs Group boosted their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Wells Fargo & Company downgraded Crown Castle from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $105.00 to $100.00 in a research report on Tuesday, December 10th. Barclays increased their price objective on shares of Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Citigroup set a $128.00 target price on Crown Castle in a research note on Thursday, October 17th. Finally, TD Cowen decreased their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $113.93.

Crown Castle Trading Down 1.7 %

The stock has a market cap of $38.44 billion, a P/E ratio of 31.36 and a beta of 0.87. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a 50-day moving average price of $100.51 and a 200-day moving average price of $106.30.

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 firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the business posted $1.77 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities research analysts expect that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Crown Castle by 3.7% in the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after buying an additional 747,390 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after purchasing an additional 3,371,186 shares in the last quarter. Geode Capital Management LLC raised its holdings in Crown Castle by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock worth $1,434,229,000 after purchasing an additional 151,990 shares during the period. Legal & General Group Plc lifted its position in Crown Castle by 1.1% during the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after purchasing an additional 67,072 shares in the last quarter. Finally, Barclays PLC grew its holdings in Crown Castle by 7.2% during the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock valued at $613,900,000 after purchasing an additional 348,296 shares during the period. 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.