Crown Castle (NYSE:CCI) Cut to Equal Weight at Barclays

Barclays cut shares of Crown Castle (NYSE:CCI) from an overweight rating to an equal weight rating in a report released on Monday morning, Marketbeat reports. They currently have $101.00 target price on the real estate investment trust’s stock, down from their prior target price of $104.00.

Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Wells Fargo & Company decreased their price objective on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crown Castle in a research report on Tuesday, November 25th. JPMorgan Chase & Co. reduced their target price on Crown Castle from $120.00 to $115.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Finally, Raymond James Financial decreased their price target on Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating for the company in a research note on Thursday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Crown Castle has an average rating of “Moderate Buy” and an average price target of $111.59.

Crown Castle Stock Up 0.0%

NYSE:CCI opened at $88.31 on Monday. The firm has a market capitalization of $38.46 billion, a P/E ratio of -8.31, a P/E/G ratio of 0.66 and a beta of 0.94. Crown Castle has a 52 week low of $84.20 and a 52 week high of $115.76. The company has a fifty day moving average of $93.45 and a 200 day moving average of $98.47.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping 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 $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company earned $1.84 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, analysts anticipate that Crown Castle will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, December 15th. Crown Castle’s dividend payout ratio is -39.98%.

Insider Buying and Selling

In related news, EVP Daniel K. Schlanger sold 30,000 shares of Crown Castle stock in a transaction on Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the transaction, the executive vice president directly owned 65,571 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Harbour Investments Inc. raised its position in shares of Crown Castle by 18.9% during the first quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 107 shares during the last quarter. Argent Trust Co grew its stake in Crown Castle by 8.4% during the first quarter. Argent Trust Co now owns 9,087 shares of the real estate investment trust’s stock valued at $947,000 after acquiring an additional 708 shares in the last quarter. Raiffeisen Bank International AG increased its holdings in Crown Castle by 309.3% in the 1st quarter. Raiffeisen Bank International AG now owns 7,768 shares of the real estate investment trust’s stock valued at $805,000 after acquiring an additional 5,870 shares during the last quarter. American Assets Investment Management LLC purchased a new stake in Crown Castle in the 1st quarter worth $10,395,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Crown Castle by 717.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,144 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 1,004 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

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.