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

Crown Castle Inc. (NYSE:CCI) has been assigned a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $118.93.

CCI has been the subject of a number of recent research reports. BMO Capital Markets upgraded shares of Crown Castle from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $107.00 to $110.00 in a report on Friday, January 19th. Royal Bank of Canada increased their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a report on Wednesday, February 21st.

Hedge Funds Weigh In On Crown Castle

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Crown Castle in the 4th quarter valued at $581,503,000. Moneta Group Investment Advisors LLC raised its holdings in shares of Crown Castle by 90,084.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,487,430 shares of the real estate investment trust’s stock valued at $473,035,000 after purchasing an additional 3,483,563 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Crown Castle by 2,296.2% in the 3rd quarter. National Bank of Canada FI now owns 2,885,158 shares of the real estate investment trust’s stock valued at $262,351,000 after purchasing an additional 2,764,751 shares in the last quarter. Barclays PLC raised its holdings in shares of Crown Castle by 78.7% in the 4th quarter. Barclays PLC now owns 5,463,901 shares of the real estate investment trust’s stock valued at $629,386,000 after purchasing an additional 2,405,768 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Crown Castle by 42.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after purchasing an additional 2,121,603 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 0.4 %

CCI stock opened at $96.71 on Friday. The company has a market cap of $42.02 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 2.58 and a beta of 0.73. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. Crown Castle has a 12 month low of $84.72 and a 12 month high of $134.50. The firm has a 50-day moving average of $106.16 and a two-hundred day moving average of $105.08.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.565 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.47%. Crown Castle’s payout ratio is currently 180.92%.

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.