Crown Castle (NYSE:CCI) Sets New 1-Year Low – What’s Next?

Crown Castle Inc. (NYSE:CCI)’s stock price reached a new 52-week low on Friday . The stock traded as low as $83.65 and last traded at $83.9740, with a volume of 161732 shares trading hands. The stock had previously closed at $84.52.

Wall Street Analyst Weigh In

A number of research firms have commented on CCI. New Street Research cut shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price target for the company. in a report on Monday. Weiss Ratings reissued a “sell (d)” rating on shares of Crown Castle in a research report on Monday, December 29th. Royal Bank Of Canada set a $112.00 target price on Crown Castle and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Citigroup dropped their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. Finally, The Goldman Sachs Group increased their price target on Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.33.

Crown Castle Trading Down 1.0%

The stock has a market capitalization of $36.45 billion, a P/E ratio of -7.88, a price-to-earnings-growth ratio of 0.54 and a beta of 0.96. The business has a fifty day simple moving average of $89.32 and a 200 day simple moving average of $96.38.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share 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 company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company earned $1.84 earnings per share. 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 forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Monday, December 15th. Crown Castle’s payout ratio is currently -39.98%.

Insider Activity

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Crown Castle

Institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its position in shares of Crown Castle by 2.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,135 shares of the real estate investment trust’s stock worth $744,000 after buying an additional 204 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Crown Castle by 196.6% during the first quarter. NewEdge Advisors LLC now owns 27,907 shares of the real estate investment trust’s stock valued at $2,909,000 after acquiring an additional 18,498 shares during the last quarter. Ascent Group LLC purchased a new stake in shares of Crown Castle during the first quarter valued at approximately $461,000. Empowered Funds LLC lifted its holdings in Crown Castle by 7.5% during the first quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock worth $1,714,000 after acquiring an additional 1,150 shares during the period. Finally, SageView Advisory Group LLC boosted its position in Crown Castle by 3.8% in the first quarter. SageView Advisory Group LLC now owns 5,504 shares of the real estate investment trust’s stock worth $574,000 after purchasing an additional 200 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

About Crown Castle

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.