Crown Castle (NYSE:CCI) Price Target Cut to $123.00 by Analysts at Jefferies Financial Group

Crown Castle (NYSE:CCI) had its target price reduced by Jefferies Financial Group from $126.00 to $123.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

CCI has been the topic of several other research reports. Scotiabank decreased their price objective 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 lifted their price objective on Crown Castle from $92.00 to $109.00 and gave the stock a sector perform rating in a report on Wednesday, February 21st. Finally, BMO Capital Markets decreased their price objective on Crown Castle from $110.00 to $105.00 and set a market perform rating on the stock in a report on Thursday. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $119.40.

Crown Castle Trading Up 1.4 %

Shares of CCI stock opened at $94.37 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46. The business has a 50-day moving average price of $105.15 and a two-hundred day moving average price of $105.07. Crown Castle has a 12-month low of $84.72 and a 12-month high of $134.09. The firm has a market cap of $41.01 billion, a P/E ratio of 29.49, a price-to-earnings-growth ratio of 2.48 and a beta of 0.73.

Crown Castle (NYSE:CCI) last released its quarterly earnings data 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). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a return on equity of 20.78% and a net margin of 20.32%. The firm’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.91 EPS. Equities analysts anticipate that Crown Castle will post 6.59 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $1.565 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.63%. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Magnolia Capital Advisors LLC grew its holdings in shares of Crown Castle by 3.2% during the 4th quarter. Magnolia Capital Advisors LLC now owns 2,375 shares of the real estate investment trust’s stock worth $322,000 after acquiring an additional 73 shares during the period. Summit Financial Group Inc. boosted its position in shares of Crown Castle by 5.5% in the 3rd quarter. Summit Financial Group Inc. now owns 1,638 shares of the real estate investment trust’s stock worth $237,000 after purchasing an additional 85 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Crown Castle by 2.4% in the 1st quarter. Orion Portfolio Solutions LLC now owns 3,678 shares of the real estate investment trust’s stock worth $679,000 after purchasing an additional 86 shares in the last quarter. Dakota Community Bank & Trust NA boosted its position in shares of Crown Castle by 4.2% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock worth $204,000 after purchasing an additional 90 shares in the last quarter. Finally, Townsend & Associates Inc boosted its position in shares of Crown Castle by 5.7% in the 4th quarter. Townsend & Associates Inc now owns 1,682 shares of the real estate investment trust’s stock worth $238,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors 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.