Crown Castle (NYSE:CCI) Price Target Raised to $113.00

Crown Castle (NYSE:CCI) had its price target hoisted by Barclays from $104.00 to $113.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group cut shares of 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 research report on Thursday, January 2nd. UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a research report on Friday, March 14th. Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $85.00 to $105.00 in a research note on Monday. Raymond James upgraded shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from $128.00 to $122.00 in a research note on Friday, March 14th. Finally, Moffett Nathanson dropped their price objective on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.29.

Crown Castle Trading Down 0.4 %

CCI opened at $104.52 on Monday. Crown Castle has a one year low of $84.20 and a one year high of $120.92. 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 $91.98 and a two-hundred day simple moving average of $101.23. The firm has a market capitalization of $45.43 billion, a price-to-earnings ratio of 37.07 and a beta of 0.89.

Crown Castle Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Twin Tree Management LP bought a new stake in Crown Castle during the fourth quarter valued at about $25,000. FNY Investment Advisers LLC grew its stake in shares of Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 300 shares during the period. Roxbury Financial LLC purchased a new stake in Crown Castle in the 4th quarter worth approximately $37,000. Vermillion Wealth Management Inc. bought a new stake in Crown Castle during the 4th quarter worth approximately $38,000. Finally, Investors Research Corp raised its stake in Crown Castle by 57.2% during the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $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.