Barclays Cuts Crown Castle (NYSE:CCI) Price Target to $104.00

Crown Castle (NYSE:CCI) had its price target lowered by Barclays from $120.00 to $104.00 in a report issued on Monday morning, MarketBeat reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

A number of other brokerages also recently weighed in on CCI. KeyCorp decreased their price target on Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Crown Castle in a research note on Thursday, October 30th. Royal Bank Of Canada set a $112.00 price target on Crown Castle and gave the company an “outperform” rating in a research note on Wednesday, October 1st. UBS Group increased their price target on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Finally, Scotiabank raised their price objective on shares of Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.18.

Crown Castle Price Performance

Shares of CCI stock opened at $91.05 on Monday. The stock has a market capitalization of $39.65 billion, a PE ratio of -8.57, a PEG ratio of 0.68 and a beta of 0.94. The business’s 50 day simple moving average is $94.36 and its 200 day simple moving average is $99.38. Crown Castle has a one year low of $84.20 and a one year high of $115.76.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company earned $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. As a group, research analysts expect that Crown Castle will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, December 15th. Crown Castle’s dividend payout ratio (DPR) is -39.98%.

Insider Activity at Crown Castle

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the company’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $98.08, for a total value of $2,942,400.00. Following the sale, the executive vice president owned 65,571 shares in the company, valued at $6,431,203.68. This represents a 31.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.10% of the stock is currently owned by insiders.

Institutional Trading of Crown Castle

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB boosted its position in shares of Crown Castle by 0.9% during the second quarter. Wilmington Savings Fund Society FSB now owns 10,274 shares of the real estate investment trust’s stock valued at $1,055,000 after buying an additional 93 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its position in Crown Castle by 47.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of Crown Castle by 18.9% in the 1st quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 107 shares during the last quarter. Whittier Trust Co. grew its position in Crown Castle by 5.6% during the second quarter. Whittier Trust Co. now owns 2,046 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 109 shares during the period. Finally, Abel Hall LLC increased its holdings in Crown Castle by 1.8% during the first quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust’s stock worth $666,000 after buying an additional 115 shares during 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.