Scotiabank Has Lowered Expectations for Crown Castle (NYSE:CCI) Stock Price

Crown Castle (NYSE:CCI) had its price objective decreased by Scotiabank from $118.00 to $102.00 in a research report released on Thursday,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on the stock. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. UBS Group increased their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Royal Bank of Canada upped their price target on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. The Goldman Sachs Group increased their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Finally, TD Cowen dropped their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $109.80.

Crown Castle Trading Up 0.2 %

Shares of CCI opened at $88.62 on Thursday. The firm has a market cap of $38.51 billion, a P/E ratio of 31.43 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 business has a 50-day moving average of $95.88 and a 200 day moving average of $105.47. Crown Castle has a fifty-two week low of $84.20 and a fifty-two week high of $120.92.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 7.06%. Crown Castle’s dividend payout ratio is currently 221.99%.

Hedge Funds Weigh In On Crown Castle

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its holdings in 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 valued at $2,079,417,000 after purchasing an additional 3,371,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Crown Castle by 433.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after purchasing an additional 3,225,460 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Crown Castle by 13,271.6% during the third quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock worth $115,449,000 after acquiring an additional 965,907 shares during the period. State Street Corp raised its position in Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Crown Castle by 25.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock worth $375,610,000 after acquiring an additional 642,010 shares in the last quarter. 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.