Crown Castle (NYSE:CCI) Rating Increased to Overweight at KeyCorp

KeyCorp upgraded shares of Crown Castle (NYSE:CCI) from a sector weight rating to an overweight rating in a report released on Friday morning, MarketBeat.com reports. They currently have $120.00 price objective on the real estate investment trust’s stock.

Several other brokerages have also weighed in on CCI. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $117.00 to $104.00 in a research note on Monday, January 13th. Moffett Nathanson cut their price target on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company cut their price target on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.12.

Crown Castle Stock Performance

Shares of CCI stock opened at $103.20 on Friday. The stock has a market cap of $44.85 billion, a PE ratio of 36.59 and a beta of 0.89. The business has a 50-day simple moving average of $91.00 and a 200-day simple moving average of $101.49. 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.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.07%. Crown Castle’s dividend payout ratio is presently 221.99%.

Institutional Investors Weigh In On Crown Castle

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Crown Castle in the fourth quarter valued at approximately $12,637,000. Probity Advisors Inc. increased its holdings in shares of Crown Castle by 13.9% in the fourth quarter. Probity Advisors Inc. now owns 4,558 shares of the real estate investment trust’s stock valued at $414,000 after purchasing an additional 557 shares during the last quarter. Siemens Fonds Invest GmbH increased its holdings in shares of Crown Castle by 811.5% in the fourth quarter. Siemens Fonds Invest GmbH now owns 49,593 shares of the real estate investment trust’s stock valued at $4,501,000 after purchasing an additional 44,152 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Crown Castle in the fourth quarter valued at approximately $45,348,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in shares of Crown Castle in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds 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.