Crown Castle (NYSE:CCI) Given New $105.00 Price Target at Bank of America

Crown Castle (NYSE:CCI) had its target price decreased by Bank of America from $120.00 to $105.00 in a report released on Friday morning, Benzinga reports. Bank of America currently has a neutral rating on the real estate investment trust’s stock.

Several other research analysts have also recently issued reports on the company. Jefferies Financial Group cut their target price on Crown Castle from $126.00 to $123.00 and set a buy rating on the stock in a research report on Thursday. Royal Bank of Canada lifted their price target on Crown Castle from $92.00 to $109.00 and gave the stock a sector perform rating in a report on Wednesday, February 21st. BMO Capital Markets dropped their price target on Crown Castle from $110.00 to $105.00 and set a market perform rating on the stock in a report on Thursday. Scotiabank dropped their price target on Crown Castle from $133.00 to $118.00 and set a sector perform rating on the stock in a report on Thursday. Finally, Argus lowered Crown Castle from a buy rating to a hold rating in a report on Friday. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $117.73.

Crown Castle Trading Up 0.9 %

Shares of Crown Castle stock opened at $95.26 on Friday. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42. Crown Castle has a 52 week low of $84.72 and a 52 week high of $131.43. The stock has a 50 day moving average price of $104.88 and a two-hundred day moving average price of $105.10. The stock has a market capitalization of $41.39 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The company’s revenue was down 7.4% on a year-over-year basis. During the same period last year, the business posted $1.91 EPS. As a group, equities analysts anticipate that Crown Castle will post 6.59 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $1.565 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.57%. Crown Castle’s payout ratio is 195.63%.

Institutional Trading of Crown Castle

A number of hedge funds and other institutional investors have recently made changes to their positions in CCI. Riverview Trust Co raised its stake in shares of Crown Castle by 108.5% during the 3rd quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 140 shares during the period. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Crown Castle during the 4th quarter valued at $25,000. Almanack Investment Partners LLC. bought a new stake in shares of Crown Castle during the 3rd quarter valued at $28,000. PCA Investment Advisory Services Inc. bought a new stake in shares of Crown Castle during the 2nd quarter valued at $29,000. Finally, Operose Advisors LLC bought a new stake in shares of Crown Castle during the 3rd quarter valued at $30,000. 90.77% of the stock is currently 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.