Crown Castle (NYSE:CCI) Price Target Lowered to $90.00 at Jefferies Financial Group

Crown Castle (NYSE:CCI) had its price target cut by Jefferies Financial Group from $102.00 to $90.00 in a research report released on Tuesday,MarketScreener reports. They currently have a hold rating on the real estate investment trust’s stock.

Several other equities research analysts have also issued reports on the company. Wolfe Research raised Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a research note on Monday, September 22nd. Royal Bank Of Canada set a $112.00 target price on shares of Crown Castle and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. KeyCorp decreased their price target on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, September 17th. Wells Fargo & Company dropped their price objective on Crown Castle from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, BMO Capital Markets reduced their price objective on Crown Castle from $114.00 to $107.00 and set an “outperform” rating on the stock in a report on Wednesday, December 3rd. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $111.35.

Crown Castle Price Performance

Crown Castle stock traded up $0.66 during mid-day trading on Tuesday, reaching $88.56. 466,024 shares of the stock traded hands, compared to its average volume of 3,212,956. Crown Castle has a 12-month low of $84.20 and a 12-month high of $115.76. The business’s 50-day moving average is $92.48 and its 200-day moving average is $97.77. The stock has a market capitalization of $38.57 billion, a PE ratio of -8.33, a price-to-earnings-growth ratio of 0.66 and a beta of 0.94.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Equities analysts anticipate that Crown Castle will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.8%. Crown Castle’s payout ratio is -39.98%.

Insider Transactions at Crown Castle

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the completion of the transaction, the executive vice president directly owned 65,571 shares in the company, valued at $6,431,203.68. The trade was a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Institutional Trading of Crown Castle

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Crown Castle during the second quarter worth $629,431,000. Lazard Asset Management LLC grew its stake in Crown Castle by 3,051.5% during the 2nd quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock valued at $562,221,000 after acquiring an additional 5,299,155 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Crown Castle by 591.8% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,471,120 shares of the real estate investment trust’s stock worth $431,418,000 after purchasing an additional 3,824,778 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Crown Castle by 144.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust’s stock worth $357,834,000 after buying an additional 2,028,718 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Crown Castle by 33.2% during the third quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust’s stock worth $621,172,000 after purchasing an additional 1,605,291 shares during the period. 90.77% of the stock is owned by hedge funds and other 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.