Crown Castle (NYSE:CCI) Price Target Cut to $115.00 by Analysts at JPMorgan Chase & Co.

Crown Castle (NYSE:CCI) had its target price lowered by JPMorgan Chase & Co. from $121.00 to $115.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Other research analysts have also recently issued reports about the stock. Wolfe Research raised shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a report on Monday. JMP Securities assumed coverage on shares of Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 target price on the stock. Barclays raised their target price on shares of Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, 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 report on Thursday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $110.29.

Crown Castle Stock Down 0.3 %

Crown Castle stock opened at $102.91 on Monday. The stock has a market cap of $44.73 billion, a P/E ratio of 36.49 and a beta of 0.89. 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 has a twelve month low of $84.20 and a twelve month high of $120.92. The company’s 50-day moving average price is $91.29 and its two-hundred day moving average price is $101.26.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $1.565 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.08%. Crown Castle’s dividend payout ratio is currently -69.71%.

Institutional Trading of Crown Castle

Hedge funds have recently added to or reduced their stakes in the stock. Versor Investments LP boosted its position in Crown Castle by 120.0% in the fourth quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust’s stock valued at $767,000 after buying an additional 4,608 shares in the last quarter. Nordea Investment Management AB boosted its position in Crown Castle by 29.4% in the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after buying an additional 282,821 shares in the last quarter. Oak Thistle LLC acquired a new stake in Crown Castle in the fourth quarter valued at approximately $1,231,000. Avanza Fonder AB acquired a new stake in Crown Castle in the fourth quarter valued at approximately $3,083,000. Finally, Fisher Asset Management LLC boosted its position in Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after buying an additional 203,442 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.