Crown Castle (NYSE:CCI) Rating Increased to Strong-Buy at Citizens Jmp

Citizens Jmp upgraded shares of Crown Castle (NYSE:CCI) to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the company. JMP Securities began coverage on Crown Castle in a report on Monday. They issued an “outperform” rating and a $115.00 price objective on the stock. UBS Group boosted their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Citigroup set a $128.00 price target on shares of Crown Castle in a report on Thursday, October 17th. Finally, Wells Fargo & Company decreased their price objective 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Crown Castle has an average rating of “Hold” and an average target price of $110.13.

Crown Castle Price Performance

CCI stock opened at $92.33 on Monday. The firm has a market cap of $40.13 billion, a P/E ratio of 32.74 and a beta of 0.87. The firm’s fifty day moving average is $95.29 and its 200 day moving average is $105.41. Crown Castle has a 52 week low of $84.20 and a 52 week high of $120.92. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $1.565 per share. The ex-dividend date was Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 6.78%. Crown Castle’s payout ratio is 221.99%.

Institutional Trading of Crown Castle

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Silver Oak Securities Incorporated purchased a new stake in shares of Crown Castle in the fourth quarter worth $245,000. State of Alaska Department of Revenue raised its holdings in Crown Castle by 0.6% in the 4th quarter. State of Alaska Department of Revenue now owns 259,674 shares of the real estate investment trust’s stock worth $23,567,000 after acquiring an additional 1,462 shares during the last quarter. YANKCOM Partnership bought a new position in Crown Castle in the 4th quarter valued at approximately $739,000. Long Run Wealth Advisors LLC boosted its stake in Crown Castle by 15.2% during the 4th quarter. Long Run Wealth Advisors LLC now owns 13,702 shares of the real estate investment trust’s stock valued at $1,244,000 after purchasing an additional 1,805 shares during the last quarter. Finally, Inman Jager Wealth Management LLC bought a new stake in shares of Crown Castle in the 4th quarter worth $592,000. 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.