Crown Castle (NYSE:CCI) Rating Lowered to Hold at Argus

Argus lowered shares of Crown Castle (NYSE:CCIFree Report) from a buy rating to a hold rating in a research note issued to investors on Friday morning, MarketBeat.com reports.

A number of other equities research analysts have also recently issued reports on CCI. Scotiabank lowered their target price on shares of Crown Castle from $133.00 to $118.00 and set a sector perform rating on the stock in a report on Thursday. BMO Capital Markets decreased 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 report on Thursday. Royal Bank of Canada upped their price target on shares of Crown Castle from $92.00 to $109.00 and gave the stock a sector perform rating in a report on Wednesday, February 21st. Finally, Jefferies Financial Group decreased their price target on shares of Crown Castle from $126.00 to $123.00 and set a buy rating on the stock in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Crown Castle has an average rating of Hold and an average target price of $115.50.

Get Our Latest Research Report on Crown Castle

Crown Castle Trading Up 0.9 %

Shares of CCI stock opened at $95.20 on Friday. The company’s fifty day simple moving average is $104.88 and its two-hundred day simple moving average is $105.33. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40. Crown Castle has a 1 year low of $84.72 and a 1 year high of $131.43. The stock has a market capitalization of $41.37 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 2.54 and a beta of 0.73.

Crown Castle (NYSE:CCIGet Free Report) 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 analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm earned $1.91 EPS. The company’s revenue was down 7.4% compared to the same quarter last year. As a group, analysts anticipate that Crown Castle will post 6.59 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $1.565 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.58%. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley grew its position in Crown Castle by 8.9% in the third quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock worth $1,203,648,000 after acquiring an additional 1,064,382 shares in the last quarter. FMR LLC boosted its position in Crown Castle by 14.3% during the third quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock valued at $1,098,526,000 after buying an additional 1,496,330 shares during the period. Cohen & Steers Inc. boosted its position in Crown Castle by 7.9% during the fourth quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock valued at $1,310,559,000 after buying an additional 834,198 shares during the period. Wellington Management Group LLP boosted its position in Crown Castle by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock valued at $1,297,147,000 after buying an additional 1,126,394 shares during the period. Finally, Geode Capital Management LLC boosted its position in Crown Castle by 1.3% during the first quarter. Geode Capital Management LLC now owns 9,046,249 shares of the real estate investment trust’s stock valued at $1,208,030,000 after buying an additional 118,306 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Company Profile

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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.

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Analyst Recommendations for Crown Castle (NYSE:CCI)

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