Crown Castle (NYSE:CCI) Shares Gap Down – What’s Next?

Crown Castle Inc. (NYSE:CCI) gapped down prior to trading on Tuesday . The stock had previously closed at $104.31, but opened at $101.52. Crown Castle shares last traded at $100.73, with a volume of 1,238,166 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Bank of America initiated coverage on shares of Crown Castle in a report on Thursday, March 20th. They set a “neutral” rating and a $110.00 price objective on the stock. JMP Securities started coverage on Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective on the stock. Wolfe Research upgraded Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday, March 17th. Scotiabank decreased their price target on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a research note on Friday, March 14th. Finally, Moffett Nathanson dropped their price objective on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $110.00.

Crown Castle Stock Up 0.6 %

The firm has a fifty day moving average price of $93.71 and a 200 day moving average price of $100.86. The firm has a market capitalization of $44.00 billion, a price-to-earnings ratio of 35.83 and a beta of 0.89. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.20%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s payout ratio is presently -69.71%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Accurate Wealth Management LLC grew its holdings in Crown Castle by 5.4% during the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 124 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Crown Castle by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 126 shares in the last quarter. IFP Advisors Inc raised its position in Crown Castle by 5.9% in the 4th quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 133 shares during the last quarter. Howard Capital Management Inc. lifted its holdings in Crown Castle by 1.2% during the 4th quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock worth $1,041,000 after buying an additional 135 shares in the last quarter. Finally, Cidel Asset Management Inc. boosted its position in Crown Castle by 6.4% in the 4th quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 137 shares during the last quarter. 90.77% of the stock is owned by 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.