Scotiabank Issues Positive Forecast for Crown Castle (NYSE:CCI) Stock Price

Crown Castle (NYSE:CCI) had its price objective increased by Scotiabank from $99.00 to $109.00 in a research note released on Tuesday,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

A number of other brokerages also recently weighed in on CCI. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Argus raised Crown Castle to a “hold” rating in a report on Friday, March 21st. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. BMO Capital Markets reissued a “market perform” rating on shares of Crown Castle in a report on Tuesday, March 25th. Finally, Barclays upped their price objective on shares of Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, March 17th. Twelve 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.47.

Crown Castle Stock Performance

CCI opened at $104.39 on Tuesday. The firm has a market cap of $45.45 billion, a P/E ratio of 37.02 and a beta of 0.93. The business’s fifty day moving average is $98.26 and its 200-day moving average is $98.55. Crown Castle has a 52-week low of $84.20 and a 52-week high of $120.92. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.00%. Crown Castle’s payout ratio is presently -69.71%.

Hedge Funds Weigh In On Crown Castle

Several institutional investors have recently made changes to their positions in the stock. Twin Tree Management LP bought a new position in Crown Castle in the fourth quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new stake in Crown Castle during the 1st quarter valued at $26,000. American National Bank & Trust acquired a new position in Crown Castle during the first quarter worth $29,000. FNY Investment Advisers LLC lifted its stake in shares of Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 300 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in shares of Crown Castle by 62.1% during the first quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 133 shares in the last quarter. Institutional investors and hedge funds 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.