Crown Castle (NYSE:CCI) Upgraded by Wolfe Research to Peer Perform Rating

Wolfe Research upgraded shares of Crown Castle (NYSE:CCI) from an underperform rating to a peer perform rating in a report published on Monday, MarketBeat reports.

Other research analysts have also recently issued research reports about the company. KeyCorp upgraded Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a research note on Friday. Wells Fargo & Company reduced their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. UBS Group upgraded Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective on the stock in a research note on Friday. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Moffett Nathanson reduced their price objective on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $110.29.

Crown Castle Price Performance

CCI stock opened at $102.91 on Monday. The stock has a 50-day moving average price of $91.29 and a two-hundred day moving average price of $101.26. Crown Castle has a 12-month low of $84.20 and a 12-month high of $120.92. 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 company has a market cap of $44.73 billion, a PE ratio of 36.49 and a beta of 0.89.

Crown Castle Dividend Announcement

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. This represents a $6.26 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio is presently -69.71%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CCI. Norges Bank bought a new position in Crown Castle during the 4th quarter worth approximately $561,714,000. Vanguard Group Inc. lifted its holdings in 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 worth $5,672,451,000 after buying an additional 5,934,615 shares during the last quarter. Wellington Management Group LLP lifted its holdings in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Crown Castle by 433.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after buying an additional 3,225,460 shares during the last quarter. Finally, National Bank of Canada FI raised its position in shares of Crown Castle by 37.3% during the 4th quarter. National Bank of Canada FI now owns 5,793,842 shares of the real estate investment trust’s stock worth $525,849,000 after purchasing an additional 1,573,043 shares during the period. 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.