Crown Castle (NYSE:CCI) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Crown Castle (NYSE:CCI) from an underperform rating to a peer perform rating in a report published on Monday, MarketBeat reports.

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. Citigroup boosted their price target on Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Moffett Nathanson decreased their target price on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Finally, Scotiabank lowered their price objective on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a research note on Friday, March 14th. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and an average price target of $110.29.

Crown Castle Trading Down 0.4 %

CCI opened at $104.52 on Monday. Crown Castle has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $45.43 billion, a PE ratio of 37.07 and a beta of 0.89. The firm’s fifty day moving average is $91.98 and its two-hundred day moving average is $101.23.

Crown Castle Dividend Announcement

The firm 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 $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 5.99%. Crown Castle’s payout ratio is currently -69.71%.

Institutional Investors Weigh In On Crown Castle

A number of large investors have recently bought and sold shares of CCI. Versor Investments LP grew its position in Crown Castle by 120.0% in the 4th quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust’s stock valued at $767,000 after purchasing an additional 4,608 shares during the period. Nordea Investment Management AB raised its stake in shares of Crown Castle by 29.4% in the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after purchasing an additional 282,821 shares during the last quarter. Oak Thistle LLC bought a new position in shares of Crown Castle in the fourth quarter valued at approximately $1,231,000. Avanza Fonder AB purchased a new position in shares of Crown Castle during the fourth quarter valued at approximately $3,083,000. Finally, Fisher Asset Management LLC lifted its position in shares of Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after purchasing an additional 203,442 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.