Crown Castle (NYSE:CCI) Coverage Initiated at Bank of America

Bank of America assumed coverage on shares of Crown Castle (NYSE:CCI) in a report issued on Thursday. The firm issued a neutral rating and a $110.00 price target on the real estate investment trust’s stock.

Several other analysts have also weighed in on CCI. Citigroup upped their price objective on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a report on Friday, March 14th. Barclays boosted their target price on Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft cut their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $85.00 to $105.00 in a research report on Monday, March 17th. Finally, JPMorgan Chase & Co. cut their target price on Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and a consensus target price of $110.00.

Crown Castle Trading Up 1.9 %

Shares of CCI stock opened at $106.61 on Thursday. 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 has a 1 year low of $84.20 and a 1 year high of $120.92. The stock has a fifty day moving average of $92.77 and a two-hundred day moving average of $101.13. The firm has a market capitalization of $46.42 billion, a PE ratio of 37.81 and a beta of 0.89.

Crown Castle Announces Dividend

The firm 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 dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 5.87%. Crown Castle’s dividend payout ratio is -69.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. 111 Capital bought a new position in Crown Castle in the 4th quarter valued at $455,000. Wealth Enhancement Advisory Services LLC boosted its position in Crown Castle by 7.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 240,038 shares of the real estate investment trust’s stock valued at $21,786,000 after buying an additional 16,041 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in Crown Castle in the 4th quarter valued at $12,637,000. Probity Advisors Inc. boosted its position in Crown Castle by 13.9% in the 4th quarter. Probity Advisors Inc. now owns 4,558 shares of the real estate investment trust’s stock valued at $414,000 after buying an additional 557 shares during the last quarter. Finally, Siemens Fonds Invest GmbH boosted its position in Crown Castle by 811.5% in the 4th quarter. Siemens Fonds Invest GmbH now owns 49,593 shares of the real estate investment trust’s stock valued at $4,501,000 after buying an additional 44,152 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

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.