JPMorgan Chase & Co. Cuts Crown Castle (NYSE:CCI) Price Target to $110.00

Crown Castle (NYSE:CCI) had its price target trimmed by JPMorgan Chase & Co. from $115.00 to $110.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently issued reports on CCI. Citigroup decreased their target price on Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Raymond James Financial dropped their target price on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a report on Thursday, October 23rd. UBS Group reissued a “buy” rating and set a $127.00 target price on shares of Crown Castle in a research report on Wednesday, December 10th. KeyCorp lowered their price target on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. Finally, Wells Fargo & Company dropped their price target on Crown Castle from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $109.06.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $88.52 on Monday. The stock has a market cap of $38.55 billion, a price-to-earnings ratio of -8.33, a PEG ratio of 0.56 and a beta of 0.96. The business has a 50 day simple moving average of $89.00 and a 200 day simple moving average of $95.90. Crown Castle has a 52 week low of $83.21 and a 52 week high of $115.76.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping the consensus estimate of $1.04 by $0.08. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, analysts predict that Crown Castle will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Monday, December 15th. Crown Castle’s dividend payout ratio (DPR) is -39.98%.

Insider Activity

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the completion of the transaction, the executive vice president directly owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their position. The transaction was disclosed in a legal filing 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

Hedge funds have recently added to or reduced their stakes in the business. Winnow Wealth LLC bought a new stake in shares of Crown Castle in the 2nd quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Crown Castle during the 2nd quarter worth approximately $27,000. NewSquare Capital LLC boosted its stake in Crown Castle by 74.5% in the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 120 shares in the last quarter. LRI Investments LLC bought a new stake in Crown Castle in the third quarter valued at $29,000. Finally, Wiser Advisor Group LLC bought a new stake in Crown Castle in the third quarter valued at $29,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.