Crown Castle (NYSE:CCI) Raised to Equal Weight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Crown Castle (NYSE:CCI) from an underweight rating to an equal weight rating in a research report report published on Monday, MarketBeat Ratings reports. Wells Fargo & Company currently has $105.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $85.00.

Other equities research analysts also recently issued reports about the company. Moffett Nathanson decreased their price objective on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Citigroup lifted their price objective on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a report on Friday. JMP Securities assumed 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. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and reduced their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Raymond James raised Crown Castle from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from $128.00 to $122.00 in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Crown Castle has an average rating of “Moderate Buy” and an average target price of $110.29.

Crown Castle Stock Down 0.3 %

CCI stock opened at $102.91 on Monday. Crown Castle has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a market cap of $44.73 billion, a PE ratio of 36.49 and a beta of 0.89. The business’s 50-day simple moving average is $91.29 and its 200 day simple moving average is $101.26. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio is presently -69.71%.

Institutional Investors Weigh In On Crown Castle

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Twin Tree Management LP acquired a new position in shares of Crown Castle during the fourth quarter valued at about $25,000. FNY Investment Advisers LLC boosted its holdings 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 worth $36,000 after purchasing an additional 300 shares during the last quarter. Roxbury Financial LLC purchased a new position in Crown Castle during the fourth quarter worth about $37,000. Vermillion Wealth Management Inc. purchased a new position in Crown Castle during the fourth quarter worth about $38,000. Finally, Investors Research Corp boosted its holdings in Crown Castle by 57.2% during the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 154 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

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.