Crown Castle (NYSE:CCI) Hits New 12-Month Low – Time to Sell?

Crown Castle Inc. (NYSE:CCI) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $71.77 and last traded at $72.12, with a volume of 1613569 shares. The stock had previously closed at $77.66.

Analyst Ratings Changes

Several research firms have weighed in on CCI. Wolfe Research cut Crown Castle from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 20th. Barclays upped their price target on shares of Crown Castle from $91.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Crown Castle in a research note on Friday, May 22nd. The Goldman Sachs Group started coverage on shares of Crown Castle in a report on Friday, June 26th. They issued a “neutral” rating and a $95.00 price objective for the company. Finally, Citizens Jmp decreased their target price on shares of Crown Castle from $125.00 to $120.00 and set a “market outperform” rating on the stock in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.13.

Crown Castle Trading Down 6.3%

The company has a market cap of $31.77 billion, a P/E ratio of 37.01, a price-to-earnings-growth ratio of 0.41 and a beta of 0.95. The company has a 50 day moving average price of $82.30 and a 200-day moving average price of $85.27.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $1.0625 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.8%. Crown Castle’s dividend payout ratio is currently 215.74%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Wiser Advisor Group LLC bought a new position in shares of Crown Castle during the third quarter worth about $29,000. Hilton Head Capital Partners LLC boosted its holdings in Crown Castle by 55.6% in the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 134 shares during the last quarter. Triumph Capital Management acquired a new stake in Crown Castle during the 3rd quarter valued at approximately $31,000. Global Assets Advisory LLC acquired a new stake in Crown Castle during the 1st quarter valued at approximately $32,000. Finally, Salomon & Ludwin LLC raised its holdings in Crown Castle by 128.7% during the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 215 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.