Crown Castle (NYSE:CCI) Given New $108.00 Price Target at Citigroup

Crown Castle (NYSE:CCI) had its price target hoisted by Citigroup from $106.00 to $108.00 in a report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

CCI has been the subject of several other research reports. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Scotiabank reduced their target price on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company reduced their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. Finally, UBS Group upgraded shares of 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $109.12.

Crown Castle Stock Up 8.5 %

Crown Castle stock opened at $103.20 on Friday. Crown Castle has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a 50 day moving average of $91.00 and a 200-day moving average of $101.49. The stock has a market capitalization of $44.85 billion, a PE ratio of 36.59 and a beta of 0.89. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.07%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Institutional Trading of Crown Castle

Several hedge funds and other institutional investors have recently bought and sold shares of CCI. Lansforsakringar Fondforvaltning AB publ bought a new position in Crown Castle in the 4th quarter valued at about $12,637,000. Probity Advisors Inc. grew its holdings in shares of Crown Castle by 13.9% during the 4th quarter. Probity Advisors Inc. now owns 4,558 shares of the real estate investment trust’s stock valued at $414,000 after purchasing an additional 557 shares during the last quarter. Siemens Fonds Invest GmbH grew its holdings in shares of Crown Castle by 811.5% during the 4th quarter. Siemens Fonds Invest GmbH now owns 49,593 shares of the real estate investment trust’s stock valued at $4,501,000 after purchasing an additional 44,152 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Crown Castle during the 4th quarter worth approximately $45,348,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Crown Castle during the 4th quarter worth approximately $38,000. 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.