Crown Castle (NYSE:CCI) Reaches New 52-Week Low - Here's Why

Crown Castle Inc. (NYSE:CCI - Get Free Report) reached a new 52-week low on Monday . The stock traded as low as $88.64 and last traded at $88.68, with a volume of 1572062 shares changing hands. The stock had previously closed at $89.99.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CCI. TD Cowen lowered their target price on Crown Castle from $127.00 to $123.00 and set a "buy" rating for the company in a report on Thursday, October 17th. UBS Group upped their price objective on Crown Castle from $103.00 to $118.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Jefferies Financial Group lowered shares of Crown Castle from a "buy" rating to a "hold" rating and dropped their price objective for the company from $127.00 to $84.00 in a report on Thursday. The Goldman Sachs Group boosted their target price on shares of Crown Castle from $105.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, September 26th. Finally, Barclays upped their price target on shares of Crown Castle from $116.00 to $117.00 and gave the company an "equal weight" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $113.93.

Crown Castle Stock Down 1.7 %

The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $38.44 billion, a PE ratio of 31.36 and a beta of 0.87. The company has a fifty day moving average price of $100.10 and a 200 day moving average price of $106.24.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). The business had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business's quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.77 earnings per share. As a group, analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $1.565 dividend. The ex-dividend date was Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 7.08%. Crown Castle's payout ratio is presently 221.99%.

Hedge Funds Weigh In On Crown Castle

Hedge funds have recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of Crown Castle by 3.7% during the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust's stock valued at $2,476,470,000 after buying an additional 747,390 shares in the last quarter. Wellington Management Group LLP lifted its position in Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust's stock valued at $2,079,417,000 after acquiring an additional 3,371,186 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Crown Castle by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust's stock worth $1,434,229,000 after purchasing an additional 151,990 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Crown Castle by 1.1% in the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust's stock worth $603,518,000 after purchasing an additional 67,072 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Crown Castle by 7.2% during the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust's stock valued at $613,900,000 after purchasing an additional 348,296 shares in the last quarter. 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.