Crown Castle (NYSE:CCI) Raised to Equal Weight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Crown Castle (NYSE:CCI) from an underweight rating to an equal weight rating in a research note issued to investors on Monday, MarketBeat.com reports. The firm currently has $105.00 price target on the real estate investment trust’s stock, up from their prior price target of $85.00.

CCI has been the topic of several other research reports. Raymond James raised shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $128.00 to $122.00 in a report on Friday, March 14th. Citigroup lifted their price target on Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Wolfe Research upgraded Crown Castle from an “underperform” rating to a “peer perform” rating in a report on Monday. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and decreased their target price for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, Barclays raised 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 assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.29.

Crown Castle Stock Down 0.4 %

Shares of NYSE CCI opened at $104.52 on Monday. Crown Castle has a 12-month low of $84.20 and a 12-month high of $120.92. The stock has a market cap of $45.43 billion, a P/E ratio of 37.07 and a beta of 0.89. 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 business’s fifty day simple moving average is $91.98 and its 200-day simple moving average is $101.23.

Crown Castle Announces Dividend

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 paid a dividend of $1.565 per share. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.99%. Crown Castle’s dividend payout ratio (DPR) is -69.71%.

Hedge Funds Weigh In On Crown Castle

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCI. 111 Capital acquired a new stake in shares of Crown Castle during the 4th quarter valued at approximately $455,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Crown Castle by 7.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 240,038 shares of the real estate investment trust’s stock valued at $21,786,000 after buying an additional 16,041 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Crown Castle during the 4th quarter worth $12,637,000. Probity Advisors Inc. boosted its position in shares of Crown Castle by 13.9% in the 4th quarter. Probity Advisors Inc. now owns 4,558 shares of the real estate investment trust’s stock worth $414,000 after buying an additional 557 shares in the last quarter. Finally, Siemens Fonds Invest GmbH grew its stake in Crown Castle by 811.5% in the 4th quarter. Siemens Fonds Invest GmbH now owns 49,593 shares of the real estate investment trust’s stock valued at $4,501,000 after acquiring an additional 44,152 shares during the last quarter. Institutional investors and hedge funds 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.