Crown Castle (NYSE:CCI) Upgraded at KeyCorp

KeyCorp upgraded shares of Crown Castle (NYSE:CCI) from a sector weight rating to an overweight rating in a research note released on Friday morning, MarketBeat Ratings reports. The brokerage currently has $120.00 target price on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on the company. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft dropped their price objective 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 decreased their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. Moffett Nathanson dropped their price target on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Finally, Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $109.12.

Crown Castle Price Performance

Crown Castle stock opened at $103.20 on Friday. The company has a market capitalization of $44.85 billion, a price-to-earnings ratio of 36.59 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. Crown Castle has a 12 month low of $84.20 and a 12 month high of $120.92. The stock’s 50 day moving average is $91.00 and its 200-day moving average is $101.32.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.07%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio is currently 221.99%.

Institutional Investors Weigh In On Crown Castle

A number of institutional investors have recently added to or reduced their stakes in CCI. Versor Investments LP bought a new stake in shares of Crown Castle in the third quarter worth $455,000. Apollon Wealth Management LLC lifted its holdings in Crown Castle by 2.1% during the 3rd quarter. Apollon Wealth Management LLC now owns 11,696 shares of the real estate investment trust’s stock worth $1,388,000 after buying an additional 238 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Crown Castle in the 3rd quarter valued at about $522,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Crown Castle in the third quarter valued at about $245,000. Finally, Prime Capital Investment Advisors LLC raised its position in shares of Crown Castle by 10.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 7,419 shares of the real estate investment trust’s stock worth $880,000 after acquiring an additional 673 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

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.