Crown Castle (NYSE:CCI) Price Target Cut to $85.00 by Analysts at Wells Fargo & Company

Crown Castle (NYSE:CCI) had its target price trimmed by Wells Fargo & Company from $100.00 to $85.00 in a research note released on Thursday,Benzinga reports. The firm currently has an underweight rating on the real estate investment trust’s stock.

CCI has been the subject of a number of other reports. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and decreased their price objective for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Citigroup set a $128.00 price objective on Crown Castle in a research note on Thursday, October 17th. The Goldman Sachs Group upped their target price on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. TD Cowen decreased their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Finally, UBS Group upped their price target on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $109.80.

Crown Castle Trading Down 0.2 %

NYSE CCI opened at $88.49 on Thursday. The stock has a market cap of $38.46 billion, a P/E ratio of 31.38 and a beta of 0.87. The company’s fifty day simple moving average is $95.29 and its 200-day simple moving average is $105.30. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle has a 52 week low of $84.20 and a 52 week high of $120.92.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 7.07%. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Hedge Funds Weigh In On Crown Castle

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pinnacle Bancorp Inc. boosted its position in Crown Castle by 13.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 90 shares during the period. Pathway Financial Advisers LLC lifted its stake in Crown Castle by 2.4% in the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after buying an additional 91 shares during the last quarter. True North Advisors LLC grew its position in shares of Crown Castle by 4.2% during the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 95 shares during the last quarter. Malaga Cove Capital LLC grew its position in shares of Crown Castle by 1.8% during the third quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock worth $658,000 after acquiring an additional 100 shares during the last quarter. Finally, Tsfg LLC increased its holdings in shares of Crown Castle by 27.5% in the 3rd quarter. Tsfg LLC now owns 542 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 117 shares during the period. 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.