Crown Castle (NYSE:CCI) Trading 3.5% Higher – Still a Buy?

Crown Castle Inc. (NYSE:CCI)’s stock price was up 3.5% during trading on Thursday . The stock traded as high as $109.08 and last traded at $107.40. Approximately 2,985,973 shares changed hands during mid-day trading, an increase of 4% from the average daily volume of 2,862,091 shares. The stock had previously closed at $103.81.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CCI. Citigroup reaffirmed a “buy” rating on shares of Crown Castle in a research note on Tuesday, March 25th. JPMorgan Chase & Co. reduced their price objective on Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. BMO Capital Markets reiterated a “market perform” rating on shares of Crown Castle in a research report on Tuesday, March 25th. Wolfe Research upgraded Crown Castle from an “underperform” rating to a “peer perform” rating in a report on Monday, March 17th. Finally, Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $85.00 to $105.00 in a report on Monday, March 17th. 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. According to MarketBeat, Crown Castle presently has an average rating of “Moderate Buy” and an average price target of $110.00.

Crown Castle Price Performance

The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market cap of $43.93 billion, a P/E ratio of 35.78 and a beta of 0.89. The business’s 50 day moving average is $95.67 and its two-hundred day moving average is $100.24.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s dividend payout ratio is -69.71%.

Institutional Investors Weigh In On Crown Castle

Several large investors have recently added to or reduced their stakes in the business. Twin Tree Management LP bought a new position in shares of Crown Castle during the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC boosted its stake 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 acquiring an additional 300 shares in the last quarter. Roxbury Financial LLC acquired a new stake in Crown Castle in the fourth quarter worth $37,000. Vermillion Wealth Management Inc. bought a new stake in Crown Castle in the fourth quarter valued at $38,000. Finally, Versant Capital Management Inc raised its holdings in shares of Crown Castle by 95.2% during the first quarter. Versant Capital Management Inc now owns 408 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 199 shares during the period. Institutional investors and hedge funds 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.