Deutsche Bank Aktiengesellschaft Cuts Crown Castle (NYSE:CCI) Price Target to $109.00

Crown Castle (NYSE:CCI) had its target price dropped by equities research analysts at Deutsche Bank Aktiengesellschaft from $110.00 to $109.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 14.17% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Argus downgraded Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. BMO Capital Markets lowered their price objective on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Wells Fargo & Company lowered their price objective on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research report on Friday, April 19th. Scotiabank lowered their price objective on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Finally, Jefferies Financial Group lowered their price objective on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and a consensus target price of $113.29.

Crown Castle Stock Performance

Crown Castle stock opened at $95.47 on Monday. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42. The stock has a fifty day moving average of $104.43 and a two-hundred day moving average of $105.40. The company has a market capitalization of $41.48 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 2.53 and a beta of 0.73. Crown Castle has a fifty-two week low of $84.72 and a fifty-two week high of $128.27.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.92). The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.91 EPS. On average, analysts anticipate that Crown Castle will post 6.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Riverview Trust Co lifted its stake in shares of Crown Castle by 108.5% during the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Crown Castle during the fourth quarter worth about $25,000. Rational Advisors LLC acquired a new position in shares of Crown Castle during the first quarter worth about $27,000. Operose Advisors LLC acquired a new position in shares of Crown Castle during the third quarter worth about $30,000. Finally, Gables Capital Management Inc. lifted its stake in shares of Crown Castle by 164.0% during the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 164 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.