Crown Castle (NYSE:CCI – Get Rating) had its target price decreased by TD Cowen from $152.00 to $149.00 in a report released on Friday, Benzinga reports. TD Cowen currently has an outperform rating on the real estate investment trust’s stock.
A number of other research analysts also recently commented on the company. Barclays reduced their target price on Crown Castle from $153.00 to $145.00 and set an equal weight rating on the stock in a report on Thursday, April 20th. Moffett Nathanson upgraded shares of Crown Castle from a market perform rating to an outperform rating and lowered their target price for the company from $161.00 to $155.00 in a research note on Thursday, March 30th. Raymond James reduced their price target on shares of Crown Castle from $154.00 to $147.00 and set an outperform rating on the stock in a research report on Friday. StockNews.com initiated coverage on shares of Crown Castle in a research report on Thursday, March 16th. They set a hold rating for the company. Finally, Morgan Stanley dropped their price objective on shares of Crown Castle from $159.00 to $151.00 in a research note on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Crown Castle currently has an average rating of Moderate Buy and a consensus price target of $157.06.
Crown Castle Stock Performance
Crown Castle stock opened at $124.48 on Friday. Crown Castle has a 52 week low of $121.71 and a 52 week high of $195.00. The company has a current ratio of 0.52, a quick ratio of 0.45 and a debt-to-equity ratio of 2.98. The stock has a market cap of $53.98 billion, a P/E ratio of 32.17 and a beta of 0.65. The stock has a 50 day moving average of $132.13 and a 200-day moving average of $136.17.
Crown Castle Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th were paid a $1.565 dividend. The ex-dividend date was Tuesday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 5.03%. Crown Castle’s payout ratio is 162.18%.
Institutional Investors Weigh In On Crown Castle
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Richard W. Paul & Associates LLC bought a new stake in shares of Crown Castle during the 4th quarter worth about $25,000. Almanack Investment Partners LLC. bought a new stake in shares of Crown Castle in the 3rd quarter worth $28,000. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Crown Castle in the fourth quarter valued at $29,000. ST Germain D J Co. Inc. bought a new position in Crown Castle during the fourth quarter valued at about $31,000. Finally, Retirement Financial Solutions LLC acquired a new position in Crown Castle during the fourth quarter worth about $36,000. 90.27% of the stock is currently owned by institutional investors.
About Crown Castle
Crown Castle, Inc is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the Towers and Fiber segments. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.
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