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

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

Several other brokerages also recently weighed in on CCI. Jefferies Financial Group lowered their price target on shares of Crown Castle from $126.00 to $123.00 and set a buy rating on the stock in a report on Thursday, April 18th. Bank of America lowered their price target on shares of Crown Castle from $120.00 to $105.00 and set a neutral rating on the stock in a report on Friday. BMO Capital Markets lowered their price target 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 target on shares of Crown Castle from $92.00 to $109.00 and gave the company a sector perform rating in a report on Wednesday, February 21st. Finally, Argus downgraded shares of Crown Castle from a buy rating to a hold rating in a 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. Based on data from MarketBeat, Crown Castle has an average rating of Hold and a consensus target price of $113.57.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $95.08 on Friday. The firm has a 50 day moving average of $104.62 and a 200 day moving average of $105.37. 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 firm has a market capitalization of $41.31 billion, a price-to-earnings ratio of 29.71, a price-to-earnings-growth ratio of 2.53 and a beta of 0.73. Crown Castle has a 12-month low of $84.72 and a 12-month high of $128.27.

Crown Castle (NYSE:CCI) last announced its 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). The business had revenue of $1.64 billion for 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 business’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.91 earnings per share. On average, research analysts anticipate that Crown Castle will post 6.59 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is 195.63%.

Institutional Investors Weigh In On Crown Castle

Hedge funds have recently bought and sold shares of the business. United Services Automobile Association raised its stake in Crown Castle by 23.1% during the third quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock valued at $1,234,000 after purchasing an additional 2,516 shares in the last quarter. Court Place Advisors LLC purchased a new stake in Crown Castle during the fourth quarter valued at $201,000. Van ECK Associates Corp raised its stake in Crown Castle by 0.5% during the third quarter. Van ECK Associates Corp now owns 117,914 shares of the real estate investment trust’s stock valued at $10,852,000 after purchasing an additional 542 shares in the last quarter. International Assets Investment Management LLC raised its stake in Crown Castle by 8,611.0% during the fourth quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock valued at $81,006,000 after purchasing an additional 695,163 shares in the last quarter. Finally, Manning & Napier Group LLC purchased a new stake in Crown Castle during the fourth quarter valued at $5,005,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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.