JPMorgan Chase & Co. Cuts Crown Castle (NYSE:CCI) Price Target to $115.00

Crown Castle (NYSE:CCI) had its price objective cut by JPMorgan Chase & Co. from $121.00 to $115.00 in a report published on Monday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on CCI. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $85.00 to $105.00 in a research note on Monday. UBS Group upgraded shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Friday, March 14th. Finally, Wolfe Research upgraded Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $110.29.

Crown Castle Price Performance

CCI opened at $104.52 on Monday. Crown Castle has a 12-month low of $84.20 and a 12-month high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market capitalization of $45.43 billion, a P/E ratio of 37.07 and a beta of 0.89. The stock has a fifty day moving average of $91.98 and a 200-day moving average of $101.23.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is -69.71%.

Institutional Investors Weigh In On Crown Castle

A number of hedge funds have recently made changes to their positions in the company. Twin Tree Management LP acquired a new stake in Crown Castle in the 4th quarter valued at about $25,000. FNY Investment Advisers LLC grew its stake in shares of Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. Roxbury Financial LLC bought a new position in Crown Castle in the 4th quarter worth approximately $37,000. Vermillion Wealth Management Inc. bought a new position in Crown Castle in the 4th quarter valued at $38,000. Finally, Investors Research Corp increased its stake in shares of Crown Castle by 57.2% in the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.