Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Crown Castle (NYSE:CCI) Stock Price

Crown Castle (NYSE:CCI) had its target price trimmed by Deutsche Bank Aktiengesellschaft from $116.00 to $96.00 in a research note released on Thursday morning. The firm currently has a hold rating on the real estate investment trust’s stock.

A number of other research firms have also commented on CCI. Wells Fargo & Company reduced their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. UBS Group boosted their price objective on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. TD Cowen lowered their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group boosted their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Crown Castle has an average rating of “Hold” and a consensus target price of $109.80.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $88.62 on Thursday. The company has a 50 day moving average of $95.88 and a 200 day moving average of $105.47. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market cap of $38.51 billion, a P/E ratio of 31.43 and a beta of 0.87. Crown Castle has a 12 month low of $84.20 and a 12 month high of $120.92.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given 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 7.06%. Crown Castle’s payout ratio is 221.99%.

Institutional Trading of Crown Castle

Institutional investors have recently made changes to their positions in the stock. Nordea Investment Management AB raised its holdings in Crown Castle by 29.4% during the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after buying an additional 282,821 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Crown Castle by 24.7% during the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after acquiring an additional 31,319 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Crown Castle during the fourth quarter worth about $1,231,000. Avanza Fonder AB bought a new stake in shares of Crown Castle in the fourth quarter worth about $3,083,000. Finally, Fisher Asset Management LLC increased its holdings in Crown Castle by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after purchasing an additional 203,442 shares during the period. Hedge funds and other institutional investors 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.