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

Crown Castle (NYSE:CCI - Free Report) had its price objective hoisted by Barclays from $104.00 to $113.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust's stock.

A number of other research analysts have also weighed in on the company. Scotiabank reduced their price target on Crown Castle from $102.00 to $99.00 and set a "sector perform" rating on the stock in a research note on Friday. Raymond James upgraded 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. Wells Fargo & Company upgraded shares of Crown Castle from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $85.00 to $105.00 in a research report on Monday. Jefferies Financial Group cut shares of Crown Castle from a "buy" rating to a "hold" rating and lowered their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, KeyCorp raised shares of Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 price objective on the stock in a research note on Friday. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $110.29.

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Crown Castle Stock Performance

NYSE CCI traded up $1.99 on Monday, hitting $104.90. 5,314,156 shares of the company's stock were exchanged, compared to its average volume of 2,596,103. The firm has a market cap of $45.59 billion, a price-to-earnings ratio of 37.20 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. The firm's 50-day moving average price is $91.64 and its two-hundred day moving average price is $101.21. Crown Castle has a fifty-two week low of $84.20 and a fifty-two week high of $120.92.

Crown Castle Dividend Announcement

The firm also recently announced 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. This represents a $6.26 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is presently -69.71%.

Hedge Funds Weigh In On Crown Castle

A number of institutional investors have recently modified their holdings of CCI. Twin Tree Management LP bought a new stake in Crown Castle in the 4th quarter valued at $25,000. FNY Investment Advisers LLC boosted its stake in shares of Crown Castle by 300.0% in the 4th 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 in the last quarter. Roxbury Financial LLC acquired a new stake in shares of Crown Castle in the 4th quarter valued at $37,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Crown Castle in the 4th quarter valued at $38,000. Finally, Investors Research Corp boosted its stake in shares of Crown Castle by 57.2% in the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 154 shares in the last quarter. 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.