Royal Bank Of Canada Cuts Crown Castle (NYSE:CCI) Price Target to $110.00

Crown Castle (NYSE:CCI) had its price objective lowered by Royal Bank Of Canada from $112.00 to $110.00 in a research report report published on Monday,MarketScreener reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

Other equities analysts also recently issued reports about the stock. Barclays reissued an “equal weight” rating and set a $101.00 price target (down from $104.00) on shares of Crown Castle in a report on Monday, December 1st. New Street Research cut shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a research note on Monday, January 5th. The Goldman Sachs Group boosted their target price on Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Scotiabank dropped their price target on Crown Castle from $114.00 to $96.00 and set a “sector perform” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group cut their price objective on Crown Castle from $102.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $108.39.

Crown Castle Trading Up 2.0%

CCI stock traded up $1.73 during trading on Monday, hitting $90.40. The company had a trading volume of 3,057,861 shares, compared to its average volume of 2,821,356. The company has a fifty day moving average price of $89.00 and a two-hundred day moving average price of $95.90. Crown Castle has a fifty-two week low of $83.21 and a fifty-two week high of $115.76. The company has a market cap of $39.37 billion, a P/E ratio of -8.50, a P/E/G ratio of 0.56 and a beta of 0.96.

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

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Monday, December 15th. Crown Castle’s dividend payout ratio (DPR) is presently -39.98%.

Insider Buying and Selling at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the completion of the sale, the executive vice president owned 65,571 shares in the company, valued at $6,431,203.68. The trade was a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.10% of the stock is currently owned by insiders.

Institutional Trading of Crown Castle

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Winnow Wealth LLC acquired a new position in Crown Castle during the 2nd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Crown Castle during the second quarter worth approximately $27,000. NewSquare Capital LLC lifted its holdings in Crown Castle by 74.5% in the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 120 shares during the period. LRI Investments LLC acquired a new position in Crown Castle in the third quarter valued at approximately $29,000. Finally, Wiser Advisor Group LLC bought a new position in Crown Castle in the third quarter valued at approximately $29,000. 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.