Crown Castle Inc. (NYSE:CCI) Receives $110.00 Consensus PT from Brokerages

Shares of Crown Castle Inc. (NYSE:CCI) have earned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $110.00.

A number of equities analysts have recently commented on 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 report on Friday, March 14th. Wells Fargo & Company raised shares of Crown Castle from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $85.00 to $105.00 in a research report on Monday, March 17th. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Barclays lifted their target price on shares of Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, March 17th. Finally, Citigroup reiterated a “buy” rating on shares of Crown Castle in a report on Tuesday, March 25th.

Institutional Trading of Crown Castle

Several institutional investors have recently added to or reduced their stakes in the stock. Twin Tree Management LP bought a new stake in shares of Crown Castle in the 4th quarter worth about $25,000. FNY Investment Advisers LLC increased its holdings 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 valued at $36,000 after buying an additional 300 shares during the last quarter. Roxbury Financial LLC acquired a new stake in Crown Castle during the fourth quarter valued at approximately $37,000. Vermillion Wealth Management Inc. bought a new position in Crown Castle during the 4th quarter worth approximately $38,000. Finally, Versant Capital Management Inc grew its position in shares of Crown Castle by 95.2% in the 1st quarter. Versant Capital Management Inc now owns 408 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 199 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Down 5.8 %

CCI stock opened at $100.89 on Friday. Crown Castle has a 52 week low of $84.20 and a 52 week high of $120.92. The company has a market cap of $43.93 billion, a price-to-earnings ratio of 35.78 and a beta of 0.89. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The business has a fifty day simple moving average of $95.67 and a 200-day simple moving average of $100.11.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s payout ratio is currently -69.71%.

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.