Brokerages Set Crown Castle Inc. (NYSE:CCI) Price Target at $108.75

Shares of Crown Castle Inc. (NYSE:CCI) have been assigned a consensus rating of “Hold” from the seventeen research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $108.75.

Several research firms have recently weighed in on CCI. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. JMP Securities initiated coverage on Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective for the company. Scotiabank reduced their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd.

Crown Castle Price Performance

NYSE CCI opened at $97.78 on Wednesday. The business’s fifty day moving average price is $90.22 and its 200-day moving average price is $101.83. The stock has a market capitalization of $42.49 billion, a price-to-earnings ratio of 34.67 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid 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 6.40%. Crown Castle’s payout ratio is presently 221.99%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CCI. Farther Finance Advisors LLC grew its position in shares of Crown Castle by 13.0% during the third quarter. Farther Finance Advisors LLC now owns 4,071 shares of the real estate investment trust’s stock valued at $483,000 after purchasing an additional 468 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Crown Castle by 5.1% during the third quarter. Janney Montgomery Scott LLC now owns 265,034 shares of the real estate investment trust’s stock valued at $31,441,000 after purchasing an additional 12,948 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Crown Castle during the third quarter valued at about $47,000. Van ECK Associates Corp grew its position in shares of Crown Castle by 24.7% during the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after purchasing an additional 31,319 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Crown Castle by 17.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 135,752 shares of the real estate investment trust’s stock valued at $16,104,000 after purchasing an additional 19,691 shares in the last quarter. 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.