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

Crown Castle Inc. (NYSE:CCI) shares reached a new 52-week low on Monday . The stock traded as low as $89.27 and last traded at $89.35, with a volume of 242379 shares. The stock had previously closed at $90.56.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CCI shares. Citigroup set a $128.00 target price on shares of Crown Castle in a report on Thursday, October 17th. Jefferies Financial Group boosted their price objective on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. 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 report on Monday, October 28th. JPMorgan Chase & Co. boosted their price target on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Barclays raised their price objective on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. One equities 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 stock. According to data from MarketBeat, Crown Castle has a consensus rating of “Hold” and an average price target of $117.00.

Crown Castle Trading Up 1.1 %

The company has a market cap of $39.44 billion, a P/E ratio of 32.18 and a beta of 0.86. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm’s 50 day moving average is $101.73 and its two-hundred day moving average is $106.42.

Crown Castle (NYSE:CCI) last issued its quarterly 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 net margin of 18.59% and a return on equity of 20.98%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the company posted $1.77 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. As a group, equities research analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

Institutional Trading of Crown Castle

A number of institutional investors have recently bought and sold shares of the company. Catalyst Capital Advisors LLC bought a new stake in shares of Crown Castle during the 3rd quarter valued at about $25,000. Asset Dedication LLC boosted its holdings in shares of Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 167 shares in the last quarter. Rosenberg Matthew Hamilton grew its position in shares of Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 136 shares during the period. Quest Partners LLC increased its stake in shares of Crown Castle by 3,672.7% in the 2nd quarter. Quest Partners LLC now owns 415 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 404 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Crown Castle during the 3rd quarter valued at $47,000. 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.