Crown Castle (NYSE:CCI) Given New $113.00 Price Target at Barclays

Crown Castle (NYSE:CCI) had its target price boosted by Barclays from $104.00 to $113.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an overweight rating on the real estate investment trust’s stock.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $85.00 to $105.00 in a research note on Monday. UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target for the company in a research note on Friday, March 14th. Wolfe Research raised Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and lowered their target price for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Finally, Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.29.

Crown Castle Trading Down 0.4 %

Shares of CCI opened at $104.52 on Monday. The firm has a market cap of $45.43 billion, a P/E ratio of 37.07 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 1 year low of $84.20 and a 1 year high of $120.92. The company has a 50 day simple moving average of $91.98 and a two-hundred day simple moving average of $101.23.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio is -69.71%.

Institutional Trading of Crown Castle

Several institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in shares of Crown Castle in the 3rd quarter worth approximately $522,000. CIBC Asset Management Inc boosted its position in Crown Castle by 8.0% during the 3rd quarter. CIBC Asset Management Inc now owns 64,047 shares of the real estate investment trust’s stock valued at $7,598,000 after acquiring an additional 4,737 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Crown Castle by 13.5% in the 3rd quarter. Empowered Funds LLC now owns 12,842 shares of the real estate investment trust’s stock valued at $1,523,000 after acquiring an additional 1,531 shares during the period. Natixis Advisors LLC raised its position in shares of Crown Castle by 15.0% in the 3rd quarter. Natixis Advisors LLC now owns 391,514 shares of the real estate investment trust’s stock worth $46,445,000 after acquiring an additional 51,006 shares in the last quarter. Finally, Swiss National Bank boosted its position in Crown Castle by 0.3% during the third quarter. Swiss National Bank now owns 1,289,700 shares of the real estate investment trust’s stock valued at $152,997,000 after purchasing an additional 3,300 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

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.