Crown Castle (NYSE:CCI) Price Target Cut to $115.00 by Analysts at Wells Fargo & Company

Crown Castle (NYSE:CCI) had its target price trimmed by Wells Fargo & Company from $125.00 to $115.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

CCI has been the subject of several other reports. Barclays increased their price objective on shares of Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, September 15th. Scotiabank increased their price objective on shares of Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Royal Bank Of Canada set a $112.00 price objective on shares of Crown Castle and gave the company an “outperform” rating in a report on Wednesday, October 1st. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Crown Castle in a report on Thursday, July 24th. Finally, UBS Group increased their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and an average price target of $113.44.

Crown Castle Price Performance

Crown Castle stock opened at $98.90 on Monday. The firm has a 50 day simple moving average of $97.30 and a 200-day simple moving average of $100.58. The stock has a market capitalization of $43.07 billion, a PE ratio of -9.27, a price-to-earnings-growth ratio of 0.74 and a beta of 0.95. Crown Castle has a 12-month low of $84.20 and a 12-month high of $115.76.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, analysts forecast that Crown Castle will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.3%. Crown Castle’s dividend payout ratio is currently -39.83%.

Institutional Trading of Crown Castle

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB increased its position in Crown Castle by 0.9% in the second quarter. Wilmington Savings Fund Society FSB now owns 10,274 shares of the real estate investment trust’s stock worth $1,055,000 after buying an additional 93 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Crown Castle by 47.8% during the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 98 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Crown Castle by 18.9% during the first quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 107 shares in the last quarter. Whittier Trust Co. grew its position in shares of Crown Castle by 5.6% during the second quarter. Whittier Trust Co. now owns 2,046 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 109 shares in the last quarter. Finally, Abel Hall LLC grew its position in shares of Crown Castle by 1.8% during the first quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust’s stock worth $666,000 after purchasing an additional 115 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

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.