Crown Castle (NYSE:CCI) Given New $109.00 Price Target at Deutsche Bank Aktiengesellschaft

Crown Castle (NYSE:CCI) had its price objective cut by Deutsche Bank Aktiengesellschaft from $110.00 to $109.00 in a report issued on Monday, Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.

Several other equities research analysts have also issued reports on the stock. Scotiabank reduced their price objective on shares of Crown Castle from $133.00 to $118.00 and set a sector perform rating for the company in a research note on Thursday, April 18th. Argus lowered shares of Crown Castle from a buy rating to a hold rating in a research note on Friday, April 19th. Bank of America reduced their price objective on shares of Crown Castle from $120.00 to $105.00 and set a neutral rating for the company in a research note on Friday, April 19th. Royal Bank of Canada boosted their target price on shares of Crown Castle from $92.00 to $109.00 and gave the stock a sector perform rating in a research report on Wednesday, February 21st. Finally, 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. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $113.29.

Crown Castle Trading Down 1.3 %

Crown Castle stock opened at $94.20 on Monday. The company’s fifty day simple moving average is $103.94 and its 200-day simple moving average is $105.25. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. Crown Castle has a 12 month low of $84.72 and a 12 month high of $123.79. The stock has a market cap of $40.93 billion, a P/E ratio of 29.44, a P/E/G ratio of 2.54 and a beta of 0.73.

Crown Castle (NYSE:CCI) last posted its quarterly 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 net margin of 20.32% and a return on equity of 21.30%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the firm earned $1.91 earnings per share. The company’s revenue was down 7.4% on a year-over-year basis. As a group, sell-side analysts forecast that Crown Castle will post 6.59 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.65%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend payout ratio is currently 195.63%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Dakota Community Bank & Trust NA raised its position in shares of Crown Castle by 4.2% during the third quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock valued at $204,000 after buying an additional 90 shares during the last quarter. Valley National Advisers Inc. increased its stake in Crown Castle by 51.1% in the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 97 shares during the period. Pinnacle Bancorp Inc. increased its stake in Crown Castle by 17.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 677 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 100 shares during the period. Waterfront Wealth Inc. increased its stake in Crown Castle by 1.9% in the fourth quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock valued at $635,000 after acquiring an additional 101 shares during the period. Finally, Raleigh Capital Management Inc. increased its stake in Crown Castle by 0.5% in the third quarter. Raleigh Capital Management Inc. now owns 18,986 shares of the real estate investment trust’s stock valued at $1,747,000 after acquiring an additional 103 shares during the period. Institutional investors and hedge funds 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.