Crown Castle (NYSE:CCI) Stock Rating Upgraded by KeyCorp

KeyCorp upgraded shares of Crown Castle (NYSE:CCI) from a sector weight rating to an overweight rating in a research report released on Friday morning, Marketbeat.com reports. KeyCorp currently has $120.00 target price on the real estate investment trust’s stock.

Several other brokerages also recently commented on CCI. Moffett Nathanson reduced their price objective on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Wells Fargo & Company decreased their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, January 23rd. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Scotiabank decreased their target price on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research report on Thursday, January 23rd. Finally, Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $117.00 to $104.00 in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.12.

Crown Castle Stock Up 8.5 %

Shares of Crown Castle stock opened at $103.20 on Friday. The firm has a market cap of $44.85 billion, a price-to-earnings ratio of 36.59 and a beta of 0.89. The stock’s 50-day moving average is $91.00 and its 200 day moving average is $101.32. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle has a one year low of $84.20 and a one year high of $120.92.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 yield of 6.07%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Hedge Funds Weigh In On Crown Castle

Hedge funds have recently modified their holdings of the company. Versor Investments LP purchased a new stake in shares of Crown Castle during the third quarter valued at approximately $455,000. Apollon Wealth Management LLC grew its stake in Crown Castle by 2.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 11,696 shares of the real estate investment trust’s stock valued at $1,388,000 after purchasing an additional 238 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Crown Castle during the 3rd quarter valued at $522,000. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Crown Castle during the 3rd quarter worth $245,000. Finally, Prime Capital Investment Advisors LLC boosted its holdings in shares of Crown Castle by 10.0% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 7,419 shares of the real estate investment trust’s stock worth $880,000 after buying an additional 673 shares during the last quarter. Institutional investors 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.