Wells Fargo & Company Cuts Crown Castle (NYSE:CCI) Price Target to $105.00

Crown Castle (NYSE:CCI) had its price target trimmed by Wells Fargo & Company from $115.00 to $105.00 in a report issued on Tuesday morning, Marketbeat.com reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

CCI has been the subject of a number of other research reports. Royal Bank Of Canada set a $112.00 price objective on Crown Castle and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. decreased their price target on shares of Crown Castle from $120.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Wolfe Research raised shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a research report on Monday, September 22nd. BMO Capital Markets reduced their price objective on shares of Crown Castle from $114.00 to $107.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 3rd. Finally, Barclays restated an “equal weight” rating and set a $101.00 target price (down previously from $104.00) on shares of Crown Castle in a research report on Monday, December 1st. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $111.35.

Crown Castle Price Performance

Shares of CCI opened at $86.94 on Tuesday. The firm has a 50 day simple moving average of $92.13 and a 200-day simple moving average of $97.62. Crown Castle has a 1-year low of $84.20 and a 1-year high of $115.76. The stock has a market cap of $37.86 billion, a price-to-earnings ratio of -8.18, a price-to-earnings-growth ratio of 0.65 and a beta of 0.94.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.Crown Castle’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities analysts expect that Crown Castle will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.9%. Crown Castle’s payout ratio is currently -39.98%.

Insider Activity at Crown Castle

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $98.08, for a total value of $2,942,400.00. Following the transaction, the executive vice president directly owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crown Castle

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCI. Winnow Wealth LLC purchased a new stake in shares of Crown Castle during the 2nd quarter worth about $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in Crown Castle during the second quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in Crown Castle during the first quarter valued at approximately $28,000. NewSquare Capital LLC increased its holdings in Crown Castle by 74.5% in the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Crown Castle in the third quarter valued at about $29,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.