Deutsche Bank Aktiengesellschaft Has Lowered Expectations 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 issued to investors on Thursday. The firm currently has a hold rating on the real estate investment trust’s stock.

CCI has been the topic of several other reports. The Goldman Sachs Group raised their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Royal Bank of Canada raised their target price on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Citigroup set a $128.00 price target on Crown Castle in a report on Thursday, October 17th. TD Cowen dropped 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. Finally, Wells Fargo & Company decreased their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and a consensus target price of $109.80.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $88.49 on Thursday. The stock has a market cap of $38.46 billion, a price-to-earnings ratio of 31.38 and a beta of 0.87. Crown Castle has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a 50 day simple moving average of $95.29 and a two-hundred day simple moving average of $105.30. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Dividend Announcement

The firm also recently disclosed 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. This represents a $6.26 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

Hedge Funds Weigh In On Crown Castle

Several large investors have recently made changes to their positions in CCI. Pinnacle Bancorp Inc. grew its position in Crown Castle by 13.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 90 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in Crown Castle by 2.4% during the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after buying an additional 91 shares in the last quarter. True North Advisors LLC boosted its position in Crown Castle by 4.2% in the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 95 shares during the period. Malaga Cove Capital LLC grew its stake in shares of Crown Castle by 1.8% in the third quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock worth $658,000 after acquiring an additional 100 shares in the last quarter. Finally, Tsfg LLC increased its position in shares of Crown Castle by 27.5% during the third quarter. Tsfg LLC now owns 542 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 117 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.