Royal Bank of Canada Cuts Crown Castle (NYSE:CCI) Price Target to $107.00

Crown Castle (NYSE:CCI) had its price objective lowered by Royal Bank of Canada from $109.00 to $107.00 in a report released on Friday,Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

Several other brokerages have also recently commented on CCI. Deutsche Bank Aktiengesellschaft reduced their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. JMP Securities initiated coverage on shares of Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. Raymond James raised shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and lowered their target price for the stock from $128.00 to $122.00 in a research note on Friday, March 14th. Moffett Nathanson cut their price target on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Finally, Wolfe Research raised Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average price target of $109.88.

Crown Castle Stock Up 1.6 %

Shares of CCI opened at $96.65 on Friday. The stock’s 50-day moving average price is $96.56 and its two-hundred day moving average price is $99.10. Crown Castle has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a market capitalization of $42.09 billion, a PE ratio of 34.27 and a beta of 0.93. 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 declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.48%. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Gateway Investment Advisers LLC acquired a new stake in shares of Crown Castle in the 1st quarter worth about $30,150,000. Pines Wealth Management LLC purchased a new stake in shares of Crown Castle in the first quarter worth approximately $206,000. Stablepoint Partners LLC lifted its holdings in shares of Crown Castle by 32.5% in the first quarter. Stablepoint Partners LLC now owns 58,693 shares of the real estate investment trust’s stock valued at $6,118,000 after purchasing an additional 14,399 shares in the last quarter. Pinnacle Wealth Management Group Inc. boosted its holdings in Crown Castle by 11.9% during the 1st quarter. Pinnacle Wealth Management Group Inc. now owns 4,317 shares of the real estate investment trust’s stock worth $450,000 after acquiring an additional 460 shares during the last quarter. Finally, Generali Investments Management Co LLC boosted its holdings in Crown Castle by 26.4% during the first quarter. Generali Investments Management Co LLC now owns 26,349 shares of the real estate investment trust’s stock worth $2,746,000 after purchasing an additional 5,510 shares during the last quarter. 90.77% of the stock is owned by 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.