Crown Castle (NYSE:CCI) Upgraded at UBS Group

UBS Group upgraded shares of Crown Castle (NYSE:CCI) from a neutral rating to a buy rating in a research note published on Friday, MarketBeat reports. The brokerage currently has $118.00 price target on the real estate investment trust’s stock.

Other research analysts also recently issued research reports about the company. Citigroup decreased their price objective on Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. KeyCorp raised Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price target on the stock in a research note on Friday. Moffett Nathanson dropped their price objective on Crown Castle from $127.00 to $105.00 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 note on Thursday, January 23rd. Finally, Raymond James raised shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and dropped their price target for the company from $128.00 to $122.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Crown Castle has a consensus rating of “Moderate Buy” and a consensus price target of $109.12.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $103.20 on Friday. The company’s fifty day moving average is $91.00 and its 200 day moving average is $101.32. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle has a 52 week low of $84.20 and a 52 week high of $120.92. The stock has a market cap of $44.85 billion, a PE ratio of 36.59 and a beta of 0.89.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued 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 6.07%. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Twin Tree Management LP bought a new position in Crown Castle in the fourth quarter worth $25,000. FNY Investment Advisers LLC grew 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 buying an additional 300 shares during the period. Roxbury Financial LLC bought a new position in shares of Crown Castle in the 4th quarter worth about $37,000. Vermillion Wealth Management Inc. purchased a new position in Crown Castle during the 4th quarter valued at about $38,000. Finally, Investors Research Corp boosted its stake in Crown Castle by 57.2% during the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 154 shares in the last quarter. Hedge funds and other institutional investors 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.