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

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

A number of other analysts have also recently commented on the company. UBS Group upped their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their target price on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $117.00 to $104.00 in a report on Monday, January 13th. The Goldman Sachs Group increased their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and decreased their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $109.80.

Crown Castle Stock Up 0.2 %

CCI opened at $88.62 on Thursday. Crown Castle has a 1-year low of $84.20 and a 1-year high of $120.92. The firm’s 50 day simple moving average is $95.88 and its two-hundred day simple moving average is $105.47. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a market capitalization of $38.51 billion, a PE ratio of 31.43 and a beta of 0.87.

Crown Castle Announces Dividend

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

Hedge Funds Weigh In On Crown Castle

Several institutional investors have recently bought and sold shares of CCI. Keudell Morrison Wealth Management lifted its holdings in shares of Crown Castle by 15.8% in the 4th quarter. Keudell Morrison Wealth Management now owns 6,128 shares of the real estate investment trust’s stock valued at $556,000 after acquiring an additional 836 shares during the last quarter. Sonora Investment Management Group LLC purchased a new stake in Crown Castle during the fourth quarter valued at approximately $485,000. Cibc World Market Inc. lifted its stake in shares of Crown Castle by 238.7% in the 4th quarter. Cibc World Market Inc. now owns 204,832 shares of the real estate investment trust’s stock valued at $18,591,000 after purchasing an additional 144,357 shares during the last quarter. Mediolanum International Funds Ltd increased its position in shares of Crown Castle by 2.2% during the 4th quarter. Mediolanum International Funds Ltd now owns 43,590 shares of the real estate investment trust’s stock valued at $3,904,000 after purchasing an additional 921 shares during the last quarter. Finally, Capital Investment Advisory Services LLC increased its position in shares of Crown Castle by 60.0% during the 4th quarter. Capital Investment Advisory Services LLC now owns 12,083 shares of the real estate investment trust’s stock valued at $1,097,000 after purchasing an additional 4,529 shares during the last quarter. 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.