Crown Castle (NYSE:CCI) Given New $105.00 Price Target at Deutsche Bank Aktiengesellschaft

Crown Castle (NYSE:CCI) had its target price boosted by Deutsche Bank Aktiengesellschaft from $103.00 to $105.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Several other equities research analysts also recently issued reports on the stock. Argus downgraded shares of Crown Castle from a buy rating to a hold rating in a research note on Friday, April 19th. Jefferies Financial Group reduced their target price on shares of Crown Castle from $126.00 to $123.00 and set a buy rating for the company in a research note on Thursday, April 18th. Wells Fargo & Company lowered their price target on Crown Castle from $115.00 to $100.00 and set an equal weight rating on the stock in a research note on Friday, April 19th. Scotiabank reduced their price objective on Crown Castle from $133.00 to $118.00 and set a sector perform rating for the company in a research report on Thursday, April 18th. Finally, TD Cowen boosted their price objective on Crown Castle from $124.00 to $127.00 and gave the company a buy rating in a research report on Thursday, July 18th. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $114.63.

Crown Castle Stock Performance

CCI stock traded up $1.48 during midday trading on Tuesday, hitting $105.77. 559,295 shares of the company traded hands, compared to its average volume of 2,773,227. The business has a 50 day simple moving average of $99.76 and a 200-day simple moving average of $102.90. The company has a quick ratio of 0.42, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle has a twelve month low of $84.72 and a twelve month high of $119.50. The stock has a market capitalization of $45.96 billion, a price-to-earnings ratio of 32.78, a price-to-earnings-growth ratio of 2.75 and a beta of 0.83.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The business’s quarterly revenue was down 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 EPS. As a group, equities research analysts predict that Crown Castle will post 6.62 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.92%. The ex-dividend date of this dividend was Friday, June 14th. Crown Castle’s payout ratio is presently 195.63%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Ables Iannone Moore & Associates Inc. bought a new position in Crown Castle in the 4th quarter worth approximately $25,000. Rational Advisors LLC bought a new position in Crown Castle during the 1st quarter worth about $27,000. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle in the 1st quarter valued at about $27,000. Richardson Financial Services Inc. bought a new stake in shares of Crown Castle in the fourth quarter valued at about $30,000. Finally, Gables Capital Management Inc. boosted its position in shares of Crown Castle by 164.0% during the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 164 shares during the period. 90.77% of the stock is 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.