JPMorgan Chase & Co. Cuts Crown Castle (NYSE:CCI) Price Target to $115.00

Crown Castle (NYSE:CCI) had its price objective cut by JPMorgan Chase & Co. from $120.00 to $115.00 in a research report report published on Thursday, MarketBeat.com reports. They currently have a neutral rating on the real estate investment trust’s stock.

CCI has been the topic of a number of other reports. Scotiabank upped their price objective on Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Wolfe Research raised Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a report on Monday, September 22nd. Barclays upped their target price on Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Royal Bank Of Canada set a $112.00 target price on Crown Castle and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Finally, BMO Capital Markets cut their target price on Crown Castle from $120.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and an average price target of $113.12.

Crown Castle Price Performance

Shares of NYSE CCI opened at $98.58 on Thursday. The stock’s fifty day moving average price is $97.03 and its two-hundred day moving average price is $100.62. Crown Castle has a one year low of $84.20 and a one year high of $115.76. The firm has a market cap of $42.93 billion, a price-to-earnings ratio of -9.27, a P/E/G ratio of 0.74 and a beta of 0.95.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm posted $1.84 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities analysts anticipate that Crown Castle will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, September 15th. Crown Castle’s dividend payout ratio is currently -39.98%.

Institutional Trading of Crown Castle

Several institutional investors and hedge funds have recently modified their holdings of CCI. GAMMA Investing LLC lifted its position in shares of Crown Castle by 18.9% during the 1st quarter. GAMMA Investing LLC now owns 5,769 shares of the real estate investment trust’s stock worth $601,000 after buying an additional 916 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Crown Castle during the 1st quarter worth $219,000. Continuum Advisory LLC lifted its position in shares of Crown Castle by 154.0% during the 1st quarter. Continuum Advisory LLC now owns 503 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 305 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Crown Castle by 7.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 180,455 shares of the real estate investment trust’s stock worth $18,809,000 after buying an additional 12,679 shares during the last quarter. Finally, Legacy Advisors LLC bought a new stake in shares of Crown Castle during the 1st quarter worth $262,000. 90.77% of the stock is currently owned by institutional investors.

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.