Crown Castle (NYSE:CCI) Given New $96.00 Price Target at Deutsche Bank Aktiengesellschaft

Crown Castle (NYSE:CCI) had its target price cut by Deutsche Bank Aktiengesellschaft from $116.00 to $96.00 in a research note published on Thursday morning. They currently have a hold rating on the real estate investment trust’s stock.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada upped their target price on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. The Goldman Sachs Group raised their target price on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $117.00 to $104.00 in a report on Monday, January 13th. Scotiabank dropped their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company reduced their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average target price of $109.80.

Crown Castle Stock Performance

Shares of CCI stock opened at $88.62 on Thursday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a fifty day simple moving average of $95.88 and a two-hundred day simple moving average of $105.47. Crown Castle has a 12 month low of $84.20 and a 12 month high of $120.92. The firm has a market capitalization of $38.51 billion, a PE ratio of 31.43 and a beta of 0.87.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 7.06%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Institutional Trading of Crown Castle

Several hedge funds have recently made changes to their positions in CCI. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle in the 3rd quarter worth about $25,000. Rosenberg Matthew Hamilton boosted its position in Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares during the period. FNY Investment Advisers LLC increased its stake in shares of Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Crown Castle in the third quarter valued at approximately $47,000. Finally, Friedenthal Financial purchased a new stake in shares of Crown Castle during the 3rd quarter valued at approximately $50,000. 90.77% of the stock is currently owned by institutional investors.

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.