Brokerages Set Crown Castle Inc. (NYSE:CCI) Price Target at $113.00

Shares of Crown Castle Inc. (NYSE:CCI) have been given an average recommendation of “Hold” by the fourteen research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $113.00.

Several brokerages recently commented on CCI. Royal Bank of Canada lifted their target price on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. The Goldman Sachs Group raised their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $117.00 to $104.00 in a research report on Monday, January 13th. TD Cowen dropped their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and decreased their price objective for the company from $127.00 to $84.00 in a report on Thursday, January 2nd.

Crown Castle Trading Up 0.4 %

CCI stock opened at $91.03 on Tuesday. Crown Castle has a one year low of $84.20 and a one year high of $120.92. The stock has a market cap of $39.56 billion, a price-to-earnings ratio of 32.28 and a beta of 0.87. The company has a fifty day moving average price of $96.66 and a two-hundred day moving average price of $105.67. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.88%. The ex-dividend date was Friday, December 13th. Crown Castle’s payout ratio is presently 221.99%.

Institutional Trading of Crown Castle

Several large investors have recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after buying an additional 3,371,186 shares during the last quarter. Geode Capital Management LLC boosted its stake in Crown Castle by 1.3% in the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after buying an additional 151,990 shares in the last quarter. Legal & General Group Plc grew its position in Crown Castle by 1.1% in the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after acquiring an additional 67,072 shares during the last quarter. Finally, Barclays PLC raised its stake in Crown Castle by 7.2% during the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after acquiring an additional 348,296 shares in 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.