Crown Castle (NYSE:CCI) Sets New 1-Year Low – What’s Next?

Crown Castle Inc. (NYSE:CCI)’s stock price reached a new 52-week low on Monday . The company traded as low as $74.11 and last traded at $74.7540, with a volume of 294111 shares changing hands. The stock had previously closed at $76.60.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CCI shares. BMO Capital Markets increased their target price on Crown Castle from $91.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Crown Castle in a research note on Friday, May 22nd. The Goldman Sachs Group initiated coverage on shares of Crown Castle in a research report on Friday, June 26th. They set a “neutral” rating and a $95.00 price objective for the company. Truist Financial assumed coverage on shares of Crown Castle in a report on Tuesday, March 31st. They issued a “hold” rating and a $90.00 target price on the stock. Finally, Scotiabank decreased their target price on shares of Crown Castle from $94.00 to $91.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 7th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.52.

Crown Castle Trading Down 3.2%

The company has a market cap of $32.35 billion, a P/E ratio of 30.62, a price-to-earnings-growth ratio of 0.39 and a beta of 0.95. The company has a 50 day moving average price of $87.61 and a 200-day moving average price of $86.82.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.55. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.41 million. During the same period in the prior year, the company earned $1.10 EPS. Crown Castle’s revenue for the quarter was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. Equities analysts expect that Crown Castle Inc. will post 4.22 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Monday, June 15th. Crown Castle’s dividend payout ratio (DPR) is presently 175.62%.

Hedge Funds Weigh In On Crown Castle

A number of institutional investors have recently added to or reduced their stakes in CCI. DV Trading LLC acquired a new stake in Crown Castle in the first quarter valued at approximately $244,000. Montchanin Asset Management LLC acquired a new position in shares of Crown Castle during the first quarter worth $324,000. Front Row Advisors LLC lifted its stake in shares of Crown Castle by 1.4% in the 1st quarter. Front Row Advisors LLC now owns 9,305 shares of the real estate investment trust’s stock valued at $757,000 after acquiring an additional 130 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of Crown Castle in the 1st quarter valued at $80,000. Finally, Orographic Financial Advisors LLC bought a new position in shares of Crown Castle in the 1st quarter valued at $1,510,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.