Crown Castle (NYSE:CCI) Upgraded 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 research report report published on Monday morning, MarketBeat Ratings reports.

Several other equities research analysts also recently commented on CCI. Jefferies Financial Group downgraded Crown Castle from a "buy" rating to a "hold" rating and dropped their target price for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. JMP Securities began coverage on shares of Crown Castle in a research note on Monday, January 27th. They set an "outperform" rating and a $115.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Crown Castle from $116.00 to $96.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. 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. Finally, Barclays upgraded shares of Crown Castle from an "equal weight" rating to an "overweight" rating and cut their price objective for the stock from $117.00 to $104.00 in a report on Monday, January 13th. 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 company. Based on data from MarketBeat, Crown Castle has a consensus rating of "Moderate Buy" and a consensus price target of $110.29.

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Crown Castle Stock Up 0.6 %

NYSE:CCI traded up $0.60 during mid-day trading on Monday, hitting $105.54. The company had a trading volume of 1,947,227 shares, compared to its average volume of 2,593,213. The business has a fifty day simple moving average of $91.64 and a 200-day simple moving average of $101.21. The firm has a market capitalization of $45.87 billion, a price-to-earnings ratio of 37.47 and a beta of 0.89. Crown Castle has a 1 year low of $84.20 and a 1 year high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $1.565 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.93%. Crown Castle's dividend payout ratio (DPR) is -69.71%.

Institutional Investors Weigh In On Crown Castle

Several institutional investors and hedge funds have recently made changes to their positions in CCI. Versor Investments LP raised its holdings in shares of Crown Castle by 120.0% during the fourth quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust's stock worth $767,000 after purchasing an additional 4,608 shares during the period. Nordea Investment Management AB grew its position in shares of Crown Castle by 29.4% during the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust's stock valued at $113,465,000 after buying an additional 282,821 shares during the last quarter. Oak Thistle LLC acquired a new stake in Crown Castle during the fourth quarter worth about $1,231,000. Avanza Fonder AB bought a new position in Crown Castle in the fourth quarter worth about $3,083,000. Finally, Fisher Asset Management LLC boosted its stake in Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust's stock valued at $603,592,000 after acquiring an additional 203,442 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

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.