Crown Castle (NYSE:CCI) Hits New 12-Month Low – What’s Next?

Shares of Crown Castle Inc. (NYSE:CCI) hit a new 52-week low on Thursday . The company traded as low as $91.86 and last traded at $92.35, with a volume of 234508 shares. The stock had previously closed at $92.90.

Wall Street Analyst Weigh In

CCI has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered shares of Crown Castle from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $105.00 to $100.00 in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lifted their price target on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. TD Cowen cut their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Barclays lifted their target price on Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, UBS Group raised their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Crown Castle presently has a consensus rating of “Hold” and a consensus price target of $117.00.

Crown Castle Trading Down 0.1 %

The stock has a market cap of $39.40 billion, a PE ratio of 32.15 and a beta of 0.86. The company has a 50 day moving average of $104.76 and a two-hundred day moving average of $106.83. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the company earned $1.77 earnings per share. The company’s quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 6.90%. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Institutional Investors Weigh In On Crown Castle

Several large investors have recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in shares of Crown Castle by 24.7% in the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after buying an additional 31,319 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Crown Castle by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after purchasing an additional 203,442 shares in the last quarter. Citizens Business Bank acquired a new position in shares of Crown Castle during the 3rd quarter worth approximately $620,000. Quest Partners LLC boosted its holdings in shares of Crown Castle by 3,111.6% during the 3rd quarter. Quest Partners LLC now owns 13,328 shares of the real estate investment trust’s stock worth $1,581,000 after purchasing an additional 12,913 shares during the last quarter. Finally, State Street Corp grew its position in shares of Crown Castle by 3.7% in the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other 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.