Crown Castle (NYSE:CCI) Reaches New 1-Year Low – Here’s Why

Crown Castle Inc. (NYSE:CCI)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $75.39 and last traded at $75.7670, with a volume of 1436980 shares trading hands. The stock had previously closed at $78.63.

Analyst Ratings Changes

Several research analysts have recently issued reports on CCI shares. Raymond James Financial upped their target price on shares of Crown Castle from $102.00 to $108.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 23rd. Scotiabank lowered their price objective on Crown Castle from $94.00 to $91.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 7th. Wells Fargo & Company reiterated an “equal weight” rating and set a $85.00 target price (down from $90.00) on shares of Crown Castle in a research note on Monday, March 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Crown Castle in a report on Friday, May 22nd. Finally, BMO Capital Markets boosted their price target on Crown Castle from $91.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.52.

Crown Castle Stock Down 2.5%

The stock has a market capitalization of $33.44 billion, a PE ratio of 31.63, a PEG ratio of 0.42 and a beta of 0.93. The firm’s fifty day moving average price is $88.45 and its two-hundred day moving average price is $87.23.

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

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date is Monday, June 15th. Crown Castle’s dividend payout ratio (DPR) is 175.62%.

Institutional Trading of Crown Castle

A number of hedge funds have recently bought and sold shares of the company. Empowered Funds LLC boosted its position in Crown Castle by 7.5% in the first quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock worth $1,714,000 after purchasing an additional 1,150 shares during the last quarter. First Trust Advisors LP increased its position in shares of Crown Castle by 6.9% during the 2nd quarter. First Trust Advisors LP now owns 87,611 shares of the real estate investment trust’s stock valued at $9,000,000 after purchasing an additional 5,630 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of Crown Castle by 3.7% in the 2nd quarter. Baird Financial Group Inc. now owns 7,655 shares of the real estate investment trust’s stock worth $786,000 after purchasing an additional 272 shares during the period. Jump Financial LLC lifted its stake in shares of Crown Castle by 49.3% in the 2nd quarter. Jump Financial LLC now owns 10,913 shares of the real estate investment trust’s stock worth $1,121,000 after purchasing an additional 3,603 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of Crown Castle by 5.6% in the second quarter. Federated Hermes Inc. now owns 4,955 shares of the real estate investment trust’s stock worth $509,000 after buying an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

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.