Crown Castle (NYSE:CCI) Price Target Cut to $105.00 by Analysts at Moffett Nathanson

Crown Castle (NYSE:CCI) had its target price trimmed by Moffett Nathanson from $127.00 to $105.00 in a research report sent to investors on Thursday morning.

Several other brokerages have also commented on CCI. TD Cowen lowered their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. UBS Group upped their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and dropped their price target for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada lifted their price objective on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. One research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $109.80.

Crown Castle Trading Down 0.2 %

Shares of CCI stock opened at $88.49 on Thursday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $38.46 billion, a price-to-earnings ratio of 31.38 and a beta of 0.87. Crown Castle has a 52-week low of $84.20 and a 52-week 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.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 7.07%. Crown Castle’s payout ratio is 221.99%.

Hedge Funds Weigh In On Crown Castle

Several institutional investors and hedge funds have recently made changes to their positions in CCI. abrdn plc grew its holdings in Crown Castle by 5.5% in the 4th quarter. abrdn plc now owns 1,257,526 shares of the real estate investment trust’s stock worth $113,970,000 after acquiring an additional 66,012 shares during the last quarter. Golden State Equity Partners boosted its holdings in shares of Crown Castle by 47.9% during the fourth quarter. Golden State Equity Partners now owns 5,580 shares of the real estate investment trust’s stock worth $506,000 after purchasing an additional 1,808 shares during the period. Avantra Family Wealth Inc. bought a new stake in shares of Crown Castle in the fourth quarter worth about $239,000. Inlet Private Wealth LLC increased its holdings in Crown Castle by 62.2% during the 4th quarter. Inlet Private Wealth LLC now owns 50,533 shares of the real estate investment trust’s stock valued at $4,586,000 after purchasing an additional 19,370 shares during the period. Finally, Keudell Morrison Wealth Management raised its position in Crown Castle by 15.8% during the 4th quarter. Keudell Morrison Wealth Management now owns 6,128 shares of the real estate investment trust’s stock valued at $556,000 after purchasing an additional 836 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

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.