Citizens Jmp upgraded shares of Crown Castle (NYSE:CCI – Free Report) to a strong-buy rating in a research note released on Monday,Zacks.com reports.
A number of other analysts have also weighed in on CCI. Wells Fargo & Company reduced their price objective on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Moffett Nathanson decreased their price target on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Royal Bank of Canada upped their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and decreased their target price for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $110.13.
Read Our Latest Stock Analysis on Crown Castle
Crown Castle Trading Down 1.9 %
Crown Castle Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a $1.565 dividend. The ex-dividend date was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 7.11%. Crown Castle’s dividend payout ratio is presently 221.99%.
Hedge Funds Weigh In On Crown Castle
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC bought a new stake in shares of Crown Castle in the 3rd quarter valued at about $25,000. Rosenberg Matthew Hamilton raised its stake in shares of Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 136 shares in the last quarter. FNY Investment Advisers LLC lifted its position in Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 300 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Crown Castle in the third quarter valued at approximately $47,000. Finally, Friedenthal Financial purchased a new position in Crown Castle in the third quarter worth $50,000. Hedge funds and other 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.
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