Crown Castle (NYSE:CCI) Stock Rating Upgraded by UBS Group

by · The Cerbat Gem

UBS Group upgraded shares of Crown Castle (NYSE:CCI – Free Report) from a neutral rating to a buy rating in a research note released on Friday morning, MarketBeat Ratings reports. They currently have $118.00 price objective on the real estate investment trust’s stock.

Several other brokerages also recently issued reports on CCI. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and cut their price objective for the stock from $128.00 to $122.00 in a research report on Friday. Citigroup cut their price objective on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft cut their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Scotiabank cut their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research report on Thursday, January 23rd. Finally, KeyCorp upgraded Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.12.

Read Our Latest Report on CCI

Crown Castle Price Performance

Shares of NYSE:CCI opened at $103.20 on Friday. The business’s 50 day simple moving average is $91.00 and its 200-day simple moving average is $101.49. The firm has a market capitalization of $44.85 billion, a price-to-earnings ratio of 36.59 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle has a 12 month low of $84.20 and a 12 month high of $120.92.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.07%. Crown Castle’s payout ratio is 221.99%.

Institutional Trading of Crown Castle

A number of institutional investors and hedge funds have recently made changes to their positions in CCI. Twin Tree Management LP acquired a new stake in shares of Crown Castle during the 4th quarter worth $25,000. FNY Investment Advisers LLC increased its holdings 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 buying an additional 300 shares during the last quarter. Roxbury Financial LLC acquired a new stake in shares of Crown Castle during the 4th quarter worth $37,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Crown Castle during the 4th quarter worth $38,000. Finally, Investors Research Corp increased its holdings 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 buying an additional 154 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Company Profile

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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.

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