Crown Castle (NYSE:CCI) Trading Up 3.5% - What's Next?

Shares of Crown Castle Inc. (NYSE:CCI - Get Free Report) rose 3.5% during trading on Thursday . The stock traded as high as $109.08 and last traded at $107.40. Approximately 2,985,973 shares were traded during mid-day trading, an increase of 4% from the average daily volume of 2,862,091 shares. The stock had previously closed at $103.81.

Wall Street Analyst Weigh In

Several analysts have weighed in on CCI shares. 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. Argus raised Crown Castle to a "hold" rating in a research report on Friday, March 21st. Wells Fargo & Company upgraded Crown Castle from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $85.00 to $105.00 in a research report on Monday, March 17th. 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. Finally, Bank of America initiated coverage on shares of Crown Castle in a report on Thursday, March 20th. They set a "neutral" rating and a $110.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating, six have issued 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 a consensus price target of $110.00.

Crown Castle Trading Down 5.8 %

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 firm has a market capitalization of $43.93 billion, a price-to-earnings ratio of 35.78 and a beta of 0.93. The firm's 50-day moving average is $95.67 and its 200 day moving average is $100.11.

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Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.20%. Crown Castle's dividend payout ratio is -69.71%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Twin Tree Management LP bought a new stake in Crown Castle in the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC lifted its position 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 worth $36,000 after purchasing an additional 300 shares during the period. Roxbury Financial LLC bought 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 during the fourth quarter worth $38,000. Finally, Versant Capital Management Inc raised its stake in Crown Castle by 95.2% during the first quarter. Versant Capital Management Inc now owns 408 shares of the real estate investment trust's stock worth $43,000 after buying an additional 199 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

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.