Crown Castle (NYSE:CCI) Given New $85.00 Price Target at Wells Fargo & Company

Crown Castle (NYSE:CCI) had its price objective decreased by Wells Fargo & Company from $100.00 to $85.00 in a research note published on Thursday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the real estate investment trust’s stock.

Several other equities analysts have also commented on the company. UBS Group raised their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. Citigroup set a $128.00 target price on shares of Crown Castle in a research note on Thursday, October 17th. Royal Bank of Canada boosted their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Finally, TD Cowen reduced their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $109.80.

Crown Castle Trading Up 0.2 %

CCI opened at $88.62 on Thursday. The stock has a market cap of $38.51 billion, a PE ratio of 31.43 and a beta of 0.87. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The business has a 50 day moving average of $95.88 and a 200-day moving average of $105.47. Crown Castle has a 52 week low of $84.20 and a 52 week high of $120.92.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Institutional Trading of Crown Castle

Institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its position in Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares during the period. Wellington Management Group LLP raised its stake in Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after buying an additional 3,371,186 shares during the last quarter. Geode Capital Management LLC raised its stake in Crown Castle by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after buying an additional 151,990 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Crown Castle by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after buying an additional 67,072 shares during the period. Finally, Barclays PLC boosted its stake in shares of Crown Castle by 7.2% in the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after buying an additional 348,296 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

About Crown Castle

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.