Crown Castle (NYSE:CCI) Stock Rating Upgraded by Wolfe Research

Wolfe Research upgraded shares of Crown Castle (NYSE:CCI) from an underperform rating to a peer perform rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports.

CCI has been the topic of a number of other reports. KeyCorp upgraded Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a research note on Friday, March 14th. JMP Securities began coverage on shares of Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target on the stock. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $128.00 to $122.00 in a research note on Friday, March 14th. Scotiabank dropped their target price on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a research report on Friday, March 14th. Finally, Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.29.

Crown Castle Stock Down 0.4 %

CCI opened at $104.52 on Monday. The company has a 50 day moving average of $91.98 and a 200 day moving average of $101.23. 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 has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a market cap of $45.43 billion, a PE ratio of 37.07 and a beta of 0.89.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.99%. Crown Castle’s dividend payout ratio (DPR) is -69.71%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Twin Tree Management LP purchased a new position in shares of Crown Castle in the 4th quarter worth about $25,000. FNY Investment Advisers LLC raised its position in Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 300 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of Crown Castle during the 4th quarter valued at about $37,000. Vermillion Wealth Management Inc. bought a new stake in shares of Crown Castle in the fourth quarter worth approximately $38,000. Finally, Investors Research Corp lifted its position 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 valued at $50,000 after purchasing an additional 154 shares during the period. Hedge funds and other 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.