Crown Castle (NYSE:CCI) Shares Gap Up to $93.05

Crown Castle Inc. (NYSE:CCI)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $93.05, but opened at $95.69. Crown Castle shares last traded at $93.56, with a volume of 424,456 shares changing hands.

Analysts Set New Price Targets

CCI has been the topic of several analyst reports. Jefferies Financial Group cut their target price on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday. Scotiabank reduced their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a report on Thursday. Royal Bank of Canada boosted their target price on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 21st. Finally, BMO Capital Markets dropped their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research report on Thursday. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $119.40.

Crown Castle Trading Down 0.2 %

The stock has a market cap of $40.35 billion, a price-to-earnings ratio of 26.74, a P/E/G ratio of 2.50 and a beta of 0.73. The business has a 50-day simple moving average of $105.41 and a two-hundred day simple moving average of $105.15. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.40 and a current ratio of 0.40.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a return on equity of 21.95% and a net margin of 21.47%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the company posted $1.91 EPS. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, research analysts forecast that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.74%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is 180.92%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Mirador Capital Partners LP acquired a new position in shares of Crown Castle during the 1st quarter worth approximately $265,000. SteelPeak Wealth LLC grew its stake in shares of Crown Castle by 239.4% in the first quarter. SteelPeak Wealth LLC now owns 9,433 shares of the real estate investment trust’s stock valued at $998,000 after buying an additional 6,654 shares in the last quarter. Financial Partners Group LLC acquired a new position in Crown Castle during the first quarter worth $6,612,000. Fiduciary Alliance LLC raised its position in Crown Castle by 9.1% during the first quarter. Fiduciary Alliance LLC now owns 87,711 shares of the real estate investment trust’s stock worth $9,145,000 after acquiring an additional 7,283 shares in the last quarter. Finally, MCF Advisors LLC lifted its stake in Crown Castle by 45.3% in the first quarter. MCF Advisors LLC now owns 6,187 shares of the real estate investment trust’s stock valued at $655,000 after acquiring an additional 1,928 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

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.