Crown Castle (NYSE:CCI) Price Target Cut to $99.00 by Analysts at Scotiabank

Crown Castle (NYSE:CCI) had its target price lowered by Scotiabank from $102.00 to $99.00 in a report released on Friday,Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

CCI has been the topic of several other research reports. UBS Group upgraded shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a research note on Friday. Raymond James upgraded shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and dropped their price target for the company from $128.00 to $122.00 in a research note on Friday. Wells Fargo & Company dropped their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. Moffett Nathanson dropped their price target on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Finally, Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $109.12.

Crown Castle Price Performance

CCI opened at $103.20 on Friday. The company’s 50-day moving average price is $91.00 and its 200 day moving average price is $101.49. Crown Castle has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The firm has a market cap of $44.85 billion, a price-to-earnings ratio of 36.59 and a beta of 0.89. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s payout ratio is 221.99%.

Institutional Trading of Crown Castle

Large investors have recently added to or reduced their stakes in the business. Twin Tree Management LP bought a new stake in Crown Castle during the fourth quarter worth approximately $25,000. FNY Investment Advisers LLC boosted its holdings in Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 300 shares in the last quarter. Roxbury Financial LLC bought a new stake in Crown Castle during the fourth quarter worth approximately $37,000. Vermillion Wealth Management Inc. bought a new stake in Crown Castle during the fourth quarter worth approximately $38,000. Finally, Investors Research Corp boosted its holdings in Crown Castle by 57.2% during the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 154 shares in the last quarter. 90.77% of the stock is currently owned by 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.