Crown Castle (NYSE:CCI) Price Target Cut to $105.00 by Analysts at Moffett Nathanson

Crown Castle (NYSE:CCI) had its price objective decreased by Moffett Nathanson from $127.00 to $105.00 in a research report sent to investors on Thursday morning.

Several other research analysts have also recently weighed in on CCI. Royal Bank of Canada lifted their price target on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $117.00 to $104.00 in a research report on Monday, January 13th. UBS Group upped their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company lowered their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, Scotiabank reduced their target price on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a report on Thursday. 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 data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $109.80.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $88.62 on Thursday. 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 stock has a market capitalization of $38.51 billion, a PE ratio of 31.43 and a beta of 0.87. The firm’s 50 day moving average price is $95.88 and its 200-day moving average price is $105.47. Crown Castle has a twelve month low of $84.20 and a twelve month high of $120.92.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a $1.565 dividend. The ex-dividend date was Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 7.06%. 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 added to or reduced their stakes in CCI. Pinnacle Bancorp Inc. raised its holdings in shares of Crown Castle by 13.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 90 shares in the last quarter. Pathway Financial Advisers LLC increased its position 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 worth $376,000 after purchasing an additional 91 shares during the last quarter. True North Advisors LLC raised its stake in 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 valued at $278,000 after purchasing an additional 95 shares in the last quarter. Malaga Cove Capital LLC lifted its position in 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 valued at $658,000 after purchasing an additional 100 shares during the last quarter. Finally, Tsfg LLC grew its stake 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 buying an additional 117 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

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.