Crown Castle (NYSE:CCI) Given New $105.00 Price Target at Bank of America

Crown Castle (NYSE:CCI) had its price target decreased by Bank of America from $120.00 to $105.00 in a research report sent to investors on Friday, Benzinga reports. Bank of America currently has a neutral rating on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on the stock. BMO Capital Markets dropped their price target on shares of Crown Castle from $110.00 to $105.00 and set a market perform rating on the stock in a research note on Thursday. Royal Bank of Canada lifted their price target on shares of Crown Castle from $92.00 to $109.00 and gave the stock a sector perform rating in a research note on Wednesday, February 21st. Scotiabank dropped their price target on shares of Crown Castle from $133.00 to $118.00 and set a sector perform rating on the stock in a research note on Thursday. Jefferies Financial Group dropped their price target on shares of Crown Castle from $126.00 to $123.00 and set a buy rating on the stock in a research note on Thursday. Finally, Argus cut shares of Crown Castle from a buy rating to a hold rating in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $117.73.

Crown Castle Trading Up 0.9 %

Shares of CCI stock opened at $95.26 on Friday. Crown Castle has a 12-month low of $84.72 and a 12-month high of $131.43. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 3.73. The firm’s 50 day moving average is $104.88 and its 200 day moving average is $105.10. The stock has a market capitalization of $41.39 billion, a P/E ratio of 29.77, a P/E/G ratio of 2.51 and a beta of 0.73.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the business posted $1.91 EPS. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. Research analysts expect that Crown Castle will post 6.59 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.565 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.57%. Crown Castle’s dividend payout ratio is currently 195.63%.

Institutional Trading of Crown Castle

Institutional investors and hedge funds have recently bought and sold shares of the stock. Almanack Investment Partners LLC. bought a new stake in Crown Castle in the 3rd quarter valued at $28,000. Ables Iannone Moore & Associates Inc. bought a new stake in Crown Castle in the 4th quarter valued at $25,000. PCA Investment Advisory Services Inc. bought a new stake in Crown Castle in the 2nd quarter valued at $29,000. Richardson Financial Services Inc. bought a new stake in Crown Castle in the 4th quarter valued at $30,000. Finally, Main Street Group LTD bought a new stake in Crown Castle in the 4th quarter valued at $30,000. 90.77% of the stock is currently owned by 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.