Scotiabank Cuts Crown Castle (NYSE:CCI) Price Target to $99.00

Crown Castle (NYSE:CCI) had its price objective reduced by Scotiabank from $102.00 to $99.00 in a research report sent to investors on Friday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Several other equities analysts also recently weighed in on the company. JMP Securities started coverage on Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Moffett Nathanson lowered their price target on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Finally, Citigroup cut their price objective on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.12.

Crown Castle Stock Up 8.5 %

CCI opened at $103.20 on Friday. The company has a market cap of $44.85 billion, a PE ratio of 36.59 and a beta of 0.89. Crown Castle has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a 50-day moving average price of $91.00 and a 200 day moving average price of $101.32. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.07%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Institutional Investors Weigh In On Crown Castle

A number of institutional investors and hedge funds have recently bought and sold shares of CCI. Twin Tree Management LP acquired a new stake in shares of Crown Castle during the fourth quarter worth about $25,000. FNY Investment Advisers LLC grew its stake in Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 300 shares during the last quarter. Roxbury Financial LLC acquired a new position in Crown Castle during the fourth quarter worth approximately $37,000. Vermillion Wealth Management Inc. purchased a new stake in Crown Castle in the fourth quarter valued at approximately $38,000. Finally, Investors Research Corp boosted its holdings in shares of Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 154 shares during the period. 90.77% of the stock is owned by hedge funds and other 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.