Crown Castle (NYSE:CCI) Stock Rating Upgraded by Citizens Jmp

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

A number of other research firms also recently commented on CCI. Scotiabank decreased their target price on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a report on Thursday, January 23rd. TD Cowen decreased their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Citigroup set a $128.00 price objective on shares of Crown Castle in a report on Thursday, October 17th. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, JMP Securities assumed coverage on shares of Crown Castle in a report on Monday. They issued an “outperform” rating and a $115.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Crown Castle presently has an average rating of “Hold” and a consensus target price of $110.13.

Crown Castle Stock Performance

Shares of CCI stock opened at $88.02 on Monday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The business has a fifty day moving average of $94.75 and a 200 day moving average of $105.24. The firm has a market capitalization of $38.25 billion, a price-to-earnings ratio of 31.21 and a beta of 0.87. Crown Castle has a 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 7.11%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s payout ratio is currently 221.99%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CCI. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle in the 3rd quarter worth $25,000. Rosenberg Matthew Hamilton grew its position in shares of Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 136 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Crown Castle during the third quarter worth about $47,000. FNY Investment Advisers LLC raised its position in shares of Crown Castle by 300.0% during the 4th 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 during the last quarter. Finally, Investors Research Corp raised its position in shares of Crown Castle by 57.2% during the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 154 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

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.