Crown Castle (NYSE:CCI) Given New $105.00 Price Target at BMO Capital Markets

Crown Castle (NYSE:CCI) had its target price lowered by BMO Capital Markets from $110.00 to $105.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a market perform rating on the real estate investment trust’s stock.

Separately, Royal Bank of Canada upped their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the stock a sector perform rating in a research note on Wednesday, February 21st. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $119.40.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $94.37 on Thursday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. The stock has a market capitalization of $41.01 billion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 2.48 and a beta of 0.73. Crown Castle has a 1-year low of $84.72 and a 1-year high of $134.09. The firm’s 50-day moving average price is $105.15 and its two-hundred day moving average price is $105.07.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.92). The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a return on equity of 20.78% and a net margin of 20.32%. Crown Castle’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.91 earnings per share. On average, equities analysts predict that Crown Castle will post 6.59 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $1.565 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.63%. Crown Castle’s payout ratio is presently 195.63%.

Hedge Funds Weigh In On Crown Castle

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Magnolia Capital Advisors LLC boosted its position in shares of Crown Castle by 3.2% during the fourth quarter. Magnolia Capital Advisors LLC now owns 2,375 shares of the real estate investment trust’s stock worth $322,000 after purchasing an additional 73 shares in the last quarter. Summit Financial Group Inc. boosted its position in shares of Crown Castle by 5.5% during the third quarter. Summit Financial Group Inc. now owns 1,638 shares of the real estate investment trust’s stock worth $237,000 after purchasing an additional 85 shares in the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Crown Castle by 2.4% during the first quarter. Orion Portfolio Solutions LLC now owns 3,678 shares of the real estate investment trust’s stock worth $679,000 after purchasing an additional 86 shares in the last quarter. Dakota Community Bank & Trust NA lifted its position in Crown Castle by 4.2% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock valued at $204,000 after acquiring an additional 90 shares in the last quarter. Finally, Townsend & Associates Inc lifted its position in Crown Castle by 5.7% in the 4th quarter. Townsend & Associates Inc now owns 1,682 shares of the real estate investment trust’s stock valued at $238,000 after acquiring an additional 90 shares in the last quarter. 90.77% of the stock is 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.