Scotiabank Cuts Crown Castle (NYSE:CCI) Price Target to $102.00

Crown Castle (NYSE:CCI) had its target price reduced by Scotiabank from $118.00 to $102.00 in a report issued on Thursday,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

CCI has been the subject of a number of other research reports. Citigroup set a $128.00 target price on Crown Castle in a report on Thursday, October 17th. TD Cowen decreased their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Jefferies Financial Group downgraded shares of 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 report on Thursday, January 2nd. Wells Fargo & Company reduced their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, Royal Bank of Canada increased their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $109.80.

Crown Castle Stock Down 0.2 %

NYSE:CCI 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 firm has a market cap of $38.46 billion, a P/E ratio of 31.38 and a beta of 0.87. Crown Castle has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The firm has a 50-day simple moving average of $95.29 and a two-hundred day simple moving average of $105.30.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $1.565 per share. 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 currently 221.99%.

Institutional Investors Weigh In On Crown Castle

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new position in shares of Crown Castle in the third quarter worth approximately $25,000. Rosenberg Matthew Hamilton boosted its holdings in Crown Castle by 107.9% in 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. Harbor Capital Advisors Inc. bought a new stake in Crown Castle during the third quarter valued at about $47,000. FNY Investment Advisers LLC lifted its position in shares of Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 300 shares in the last quarter. Finally, Investors Research Corp boosted its stake in shares of Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 154 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.