Crown Castle (NYSE:CCI) Hits New 52-Week Low - Should You Sell?

Key Points

• Crown Castle shares fell to a new 52-week low of $71.77, last trading near $72.12 versus a previous close of $77.66.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and an average price target of $95.13, despite several recent target reductions.
• Crown Castle pays a quarterly dividend of $1.0625, or $4.25 annually, representing a 5.8% yield; however, its dividend payout ratio is elevated at 215.74%.

Crown Castle Inc. (NYSE:CCI - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $71.77 and last traded at $72.12, with a volume of 1613569 shares changing hands. The stock had previously closed at $77.66.

Analysts Set New Price Targets

Several analysts have weighed in on CCI shares. Raymond James Financial boosted their price objective on Crown Castle from $102.00 to $108.00 and gave the stock a "strong-buy" rating in a report on Thursday, April 23rd. Jefferies Financial Group lowered their price target on shares of Crown Castle from $88.00 to $82.00 and set a "hold" rating for the company in a research report on Wednesday, July 15th. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Royal Bank Of Canada reduced their price objective on shares of Crown Castle from $92.00 to $90.00 and set an "outperform" rating on the stock in a research note on Thursday, July 23rd. Finally, Citigroup reiterated a "market outperform" rating on shares of Crown Castle in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.13.

Crown Castle Price Performance

The stock has a market capitalization of $31.77 billion, a price-to-earnings ratio of 37.01, a PEG ratio of 0.41 and a beta of 0.95. The business has a 50 day simple moving average of $82.30 and a 200-day simple moving average of $85.27.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $1.0625 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $4.25 dividend on an annualized basis and a yield of 5.8%. Crown Castle's dividend payout ratio is presently 215.74%.

Institutional Trading of Crown Castle

A number of institutional investors have recently made changes to their positions in CCI. Wiser Advisor Group LLC bought a new position in shares of Crown Castle in the 3rd quarter valued at about $29,000. Hilton Head Capital Partners LLC increased its position in Crown Castle by 55.6% during the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust's stock worth $31,000 after buying an additional 134 shares during the last quarter. Triumph Capital Management acquired a new position in Crown Castle during the third quarter worth approximately $31,000. Global Assets Advisory LLC bought a new stake in Crown Castle in the first quarter valued at approximately $32,000. Finally, Salomon & Ludwin LLC lifted its position in shares of Crown Castle by 128.7% in the fourth quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 215 shares during the last quarter. Institutional investors 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.

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