Crown Castle (NYSE:CCI) Sets New 1-Year Low - Here's What Happened

Crown Castle Inc. (NYSE:CCI - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $89.27 and last traded at $89.35, with a volume of 242379 shares changing hands. The stock had previously closed at $90.56.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CCI shares. Royal Bank of Canada upped their target price on shares of Crown Castle from $104.00 to $109.00 and gave the stock a "sector perform" rating in a report on Monday, October 28th. Citigroup set a $128.00 price objective on shares of Crown Castle in a report on Thursday, October 17th. Jefferies Financial Group boosted their target price on Crown Castle from $123.00 to $127.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on Crown Castle from $115.00 to $124.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group lifted their price objective on Crown Castle from $105.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Crown Castle presently has an average rating of "Hold" and a consensus target price of $117.00.

Crown Castle Price Performance

The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market capitalization of $39.02 billion, a P/E ratio of 31.84 and a beta of 0.86. The company has a fifty day simple moving average of $102.11 and a two-hundred day simple moving average of $106.48.

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 for the quarter, missing analysts' consensus estimates of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm earned $1.77 earnings per share. The company's quarterly revenue was down .9% on a year-over-year basis. Sell-side analysts expect that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $1.565 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 6.97%. Crown Castle's dividend payout ratio is currently 221.99%.

Institutional Investors Weigh In On Crown Castle

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC acquired a new position in shares of Crown Castle during the 3rd quarter worth about $25,000. Asset Dedication LLC grew its holdings in Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 167 shares during the period. Rosenberg Matthew Hamilton increased its stake in Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 136 shares in the last quarter. Quest Partners LLC raised its holdings in Crown Castle by 3,672.7% in the second quarter. Quest Partners LLC now owns 415 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 404 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Crown Castle during the third quarter worth $47,000. 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.