Crown Castle (NYSE:CCI) Upgraded to Peer Perform at Wolfe Research

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

Several other research firms have also recently commented on CCI. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and reduced their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Moffett Nathanson reduced their price target on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. JMP Securities began coverage on Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective for the company. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $117.00 to $104.00 in a report on Monday, January 13th. Finally, UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Friday. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $110.29.

Crown Castle Stock Down 0.3 %

CCI opened at $102.91 on Monday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The business has a 50 day simple moving average of $91.29 and a 200-day simple moving average of $101.26. The stock has a market capitalization of $44.73 billion, a P/E ratio of 36.49 and a beta of 0.89. Crown Castle has a 12 month low of $84.20 and a 12 month high of $120.92.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio is currently -69.71%.

Institutional Investors Weigh In On Crown Castle

Hedge funds and other institutional investors have recently made changes to their positions in the business. Twin Tree Management LP purchased a new stake in shares of Crown Castle in the fourth quarter valued at $25,000. FNY Investment Advisers LLC grew its position in shares of Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 300 shares during the period. Roxbury Financial LLC purchased a new stake in Crown Castle during the fourth quarter valued at about $37,000. Vermillion Wealth Management Inc. purchased a new stake in Crown Castle during the fourth quarter valued at about $38,000. Finally, Investors Research Corp grew 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 acquiring an additional 154 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Company Profile

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.