Crown Castle Inc. (NYSE:CCI) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Crown Castle Inc. (NYSE:CCI) have been assigned an average rating of “Hold” from the seventeen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $108.75.

Several equities research analysts have weighed in on CCI shares. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. Wells Fargo & Company reduced their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. JMP Securities started coverage on Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 target price for the company. Moffett Nathanson dropped their target price on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Finally, Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and dropped their target price for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd.

Crown Castle Trading Up 2.7 %

Shares of NYSE CCI opened at $97.78 on Wednesday. The business’s 50 day moving average is $90.22 and its two-hundred day moving average is $101.83. 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 1-year low of $84.20 and a 1-year high of $120.92. The stock has a market capitalization of $42.49 billion, a P/E ratio of 34.67 and a beta of 0.89.

Crown Castle Dividend Announcement

The company 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 is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.40%. Crown Castle’s payout ratio is 221.99%.

Institutional Trading of Crown Castle

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Crown Castle by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock worth $5,672,451,000 after buying an additional 5,934,615 shares during the period. State Street Corp lifted its holdings in Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after buying an additional 747,390 shares during the period. Wellington Management Group LLP lifted its holdings in Crown Castle by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust’s stock worth $1,892,332,000 after buying an additional 3,321,249 shares during the period. Geode Capital Management LLC lifted its holdings in Crown Castle by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust’s stock worth $1,119,225,000 after buying an additional 228,007 shares during the period. Finally, Norges Bank purchased a new stake in Crown Castle during the fourth quarter worth $561,714,000. Hedge funds and other institutional investors 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.