Crown Castle (NYSE:CCI) Price Target Raised to $109.00 at Scotiabank

Crown Castle (NYSE:CCI) had its target price upped by Scotiabank from $99.00 to $109.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

Other research analysts have also recently issued research reports about the company. JMP Securities assumed coverage on Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. Jefferies Financial Group cut shares of 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 research note on Thursday, January 2nd. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. BMO Capital Markets reissued a “market perform” rating on shares of Crown Castle in a report on Tuesday, March 25th. Finally, UBS Group upgraded Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price on the stock in a research note on Friday, March 14th. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and an average price target of $110.47.

Crown Castle Trading Up 2.2 %

NYSE:CCI opened at $104.39 on Tuesday. Crown Castle has a 52 week low of $84.20 and a 52 week high of $120.92. The firm has a 50-day moving average price of $98.26 and a two-hundred day moving average price of $98.55. The firm has a market cap of $45.45 billion, a price-to-earnings ratio of 37.02 and a beta of 0.93. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.00%. Crown Castle’s dividend payout ratio is currently -69.71%.

Institutional Trading of Crown Castle

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Crown Castle by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock valued at $5,672,451,000 after purchasing an additional 5,934,615 shares in the last quarter. Wellington Management Group LLP boosted its stake in Crown Castle by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust’s stock valued at $1,892,332,000 after buying an additional 3,321,249 shares during the period. Geode Capital Management LLC grew its position in Crown Castle by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust’s stock worth $1,119,225,000 after buying an additional 228,007 shares in the last quarter. Norges Bank bought a new position in Crown Castle in the 4th quarter worth about $561,714,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Crown Castle by 1.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,144,359 shares of the real estate investment trust’s stock valued at $557,662,000 after acquiring an additional 58,903 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other 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.