Crown Castle (NYSE:CCI) Given New $123.00 Price Target at TD Cowen

Crown Castle (NYSE:CCI) had its price target decreased by TD Cowen from $127.00 to $123.00 in a research note issued to investors on Thursday morning, Benzinga reports. TD Cowen currently has a buy rating on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the stock. The Goldman Sachs Group boosted their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their price target on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. BMO Capital Markets lifted their price objective on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. upped their target price on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada lifted their price target on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and an average price target of $115.29.

Crown Castle Trading Down 3.4 %

NYSE CCI opened at $111.75 on Thursday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. The firm has a 50-day moving average price of $114.00 and a 200 day moving average price of $105.05. Crown Castle has a 52-week low of $84.72 and a 52-week high of $120.92. The stock has a market capitalization of $48.56 billion, a P/E ratio of 40.93 and a beta of 0.85.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The company’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company earned $1.77 EPS. Equities research analysts expect that Crown Castle will post 6.65 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.60%. Crown Castle’s dividend payout ratio (DPR) is presently 229.30%.

Insider Transactions at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total value of $1,128,784.76. Following the completion of the transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Crown Castle

A number of institutional investors have recently bought and sold shares of CCI. BOKF NA grew its stake in shares of Crown Castle by 25.6% during the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after buying an additional 815 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Crown Castle by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock worth $98,570,000 after acquiring an additional 8,136 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of Crown Castle in the 1st quarter worth about $4,425,000. O Shaughnessy Asset Management LLC lifted its stake in shares of Crown Castle by 30.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock valued at $3,789,000 after purchasing an additional 8,346 shares in the last quarter. Finally, Norden Group LLC purchased a new stake in shares of Crown Castle during the 1st quarter worth about $1,804,000. 90.77% of the stock is currently owned by hedge funds and other 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.