Analysts Set Crown Castle Inc. (NYSE:CCI) Price Target at $110.00

Crown Castle Inc. (NYSE:CCI - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the nineteen brokerages that are presently covering the company, Marketbeat reports. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $110.00.

CCI has been the subject of a number of research reports. KeyCorp raised Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 price target for the company in a research note on Friday, March 14th. JPMorgan Chase & Co. lowered their target price on Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. UBS Group upgraded shares of Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price target on the stock in a research report on Friday, March 14th. Scotiabank decreased their price target 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. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Crown Castle from $116.00 to $96.00 and set a "hold" rating on the stock in a report on Thursday, January 23rd.

Crown Castle Price Performance

CCI traded down $0.79 during trading on Friday, hitting $103.82. 2,044,233 shares of the company traded hands, compared to its average volume of 2,860,759. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a market cap of $45.21 billion, a PE ratio of 36.82 and a beta of 0.89. The stock's 50-day simple moving average is $95.06 and its two-hundred day simple moving average is $100.33. Crown Castle has a 1 year low of $84.20 and a 1 year high of $120.92.

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Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is presently -69.71%.

Institutional Investors Weigh In On Crown Castle

A number of institutional investors and hedge funds have recently bought and sold shares of CCI. Vanguard Group Inc. increased its stake in shares of Crown Castle by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust's stock valued at $5,672,451,000 after buying an additional 5,934,615 shares during the period. State Street Corp raised its holdings in shares of Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust's stock valued at $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Crown Castle by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust's stock valued at $1,892,332,000 after purchasing an additional 3,321,249 shares in the last quarter. Geode Capital Management LLC increased its holdings in Crown Castle by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust's stock valued at $1,119,225,000 after buying an additional 228,007 shares during the period. Finally, Norges Bank bought a new position in Crown Castle in the fourth quarter worth approximately $561,714,000. 90.77% of the stock is owned by institutional investors.

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.