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

Wolfe Research upgraded shares of Crown Castle (NYSE:CCI - Free Report) from an underperform rating to a peer perform rating in a report published on Monday, Marketbeat.com reports.

A number of other research analysts have also weighed in on CCI. UBS Group upgraded Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price objective for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft cut their price objective on Crown Castle from $116.00 to $96.00 and set a "hold" rating for the company in a research report on Thursday, January 23rd. KeyCorp upgraded Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 price objective for the company in a research report on Friday. Jefferies Financial Group downgraded shares of Crown Castle from a "buy" rating to a "hold" rating and lowered their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company lowered their price target on shares of Crown Castle from $100.00 to $85.00 and set an "underweight" rating for the company in a report on Thursday, January 23rd. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $110.29.

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Crown Castle Price Performance

Shares of Crown Castle stock traded up $1.99 during trading on Monday, reaching $104.90. 5,314,156 shares of the stock traded hands, compared to its average volume of 2,596,103. The company has a market capitalization of $45.59 billion, a price-to-earnings ratio of 37.20 and a beta of 0.89. The business has a fifty day simple moving average of $91.64 and a two-hundred day simple moving average of $101.21. 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 52-week low of $84.20 and a 52-week high of $120.92.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend 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

Institutional investors have recently bought and sold shares of the business. Twin Tree Management LP purchased a new position in Crown Castle during the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC increased its holdings in Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 300 shares during the period. Roxbury Financial LLC purchased a new position in Crown Castle during the fourth quarter valued at approximately $37,000. Vermillion Wealth Management Inc. purchased a new position in Crown Castle during the fourth quarter valued at approximately $38,000. Finally, Investors Research Corp increased its holdings 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 buying an additional 154 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.