Crown Castle (NYSE:CCI) Research Coverage Started at JMP Securities

JMP Securities assumed coverage on shares of Crown Castle (NYSE:CCI) in a report published on Monday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $115.00 target price on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company lowered their price objective on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, January 23rd. Moffett Nathanson dropped their price target on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Citigroup set a $128.00 price objective on Crown Castle in a research note on Thursday, October 17th. UBS Group increased their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, TD Cowen reduced their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $110.13.

Crown Castle Price Performance

CCI opened at $88.02 on Monday. Crown Castle has a 1 year low of $84.20 and a 1 year high of $120.92. The company’s 50 day simple moving average is $94.75 and its 200 day simple moving average is $105.24. The stock has a market capitalization of $38.25 billion, a PE ratio of 31.21 and a beta of 0.87. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 7.11%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Hedge Funds Weigh In On Crown Castle

A number of institutional investors have recently made changes to their positions in CCI. Catalyst Capital Advisors LLC bought a new position in Crown Castle during the 3rd quarter valued at $25,000. Rosenberg Matthew Hamilton lifted its position in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. FNY Investment Advisers LLC grew its stake in Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Crown Castle in the third quarter valued at about $47,000. Finally, Friedenthal Financial acquired a new stake in Crown Castle during the third quarter valued at approximately $50,000. 90.77% of the stock is owned by institutional investors and hedge funds.

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.