Crown Castle (NYSE:CCI) PT Lowered to $109.00 at Deutsche Bank Aktiengesellschaft

Crown Castle (NYSE:CCI) had its price target lowered by Deutsche Bank Aktiengesellschaft from $110.00 to $109.00 in a report published on Monday, Benzinga reports. The firm currently has a hold rating on the real estate investment trust’s stock.

CCI has been the subject of a number of other research reports. Bank of America cut their target price on shares of Crown Castle from $120.00 to $105.00 and set a neutral rating for the company in a research report on Friday, April 19th. BMO Capital Markets cut their target price on shares of Crown Castle from $110.00 to $105.00 and set a market perform rating for the company in a research report on Thursday, April 18th. Jefferies Financial Group cut their target price on shares of Crown Castle from $126.00 to $123.00 and set a buy rating for the company in a research report on Thursday, April 18th. Scotiabank cut their target price on shares of Crown Castle from $133.00 to $118.00 and set a sector perform rating for the company in a research report on Thursday, April 18th. Finally, Wells Fargo & Company cut their price objective on shares of Crown Castle from $115.00 to $100.00 and set an equal weight rating for the company in a research report on Friday, April 19th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Crown Castle has a consensus rating of Hold and an average price target of $113.29.

Crown Castle Price Performance

CCI opened at $95.44 on Monday. The firm has a market cap of $41.47 billion, a P/E ratio of 29.83, a PEG ratio of 2.53 and a beta of 0.73. The firm has a 50-day moving average of $104.22 and a 200 day moving average of $105.33. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42. Crown Castle has a fifty-two week low of $84.72 and a fifty-two week high of $125.41.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results 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 company 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%. Crown Castle’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.91 EPS. On average, research analysts expect that Crown Castle will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date was Thursday, March 14th. Crown Castle’s dividend payout ratio is currently 195.63%.

Institutional Investors Weigh In On Crown Castle

A number of institutional investors and hedge funds have recently bought and sold shares of CCI. Cambridge Investment Research Advisors Inc. raised its stake in shares of Crown Castle by 1.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 70,188 shares of the real estate investment trust’s stock worth $7,428,000 after acquiring an additional 755 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Crown Castle by 25.2% during the first quarter. V Square Quantitative Management LLC now owns 8,499 shares of the real estate investment trust’s stock worth $899,000 after acquiring an additional 1,709 shares in the last quarter. Premier Path Wealth Partners LLC raised its stake in shares of Crown Castle by 6.5% during the first quarter. Premier Path Wealth Partners LLC now owns 2,776 shares of the real estate investment trust’s stock worth $294,000 after acquiring an additional 169 shares in the last quarter. Demars Financial Group LLC raised its stake in shares of Crown Castle by 23.4% during the first quarter. Demars Financial Group LLC now owns 5,016 shares of the real estate investment trust’s stock worth $531,000 after acquiring an additional 952 shares in the last quarter. Finally, Simplicity Wealth LLC purchased a new position in shares of Crown Castle during the first quarter worth approximately $837,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

About Crown Castle

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.