Crown Castle (NYSE:CCI) Cut to Sell at StockNews.com

StockNews.com lowered shares of Crown Castle (NYSE:CCI) from a hold rating to a sell rating in a research note published on Friday morning.

CCI has been the subject of a number of other research reports. Barclays boosted their price target on Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, March 17th. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and decreased their target price for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. KeyCorp upgraded Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price target on the stock in a report on Friday, March 14th. UBS Group raised shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Friday, March 14th. Finally, Raymond James upgraded shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $128.00 to $122.00 in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $109.88.

Crown Castle Stock Up 1.6 %

Crown Castle stock opened at $96.65 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle has a 1-year low of $84.20 and a 1-year high of $120.92. The firm’s fifty day simple moving average is $96.56 and its 200-day simple moving average is $99.10. The company has a market capitalization of $42.09 billion, a P/E ratio of 34.27 and a beta of 0.93.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.48%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s dividend payout ratio is -69.71%.

Institutional Trading of Crown Castle

Several institutional investors have recently made changes to their positions in CCI. Quantinno Capital Management LP boosted its holdings in Crown Castle by 72.2% during the third quarter. Quantinno Capital Management LP now owns 11,872 shares of the real estate investment trust’s stock valued at $1,408,000 after purchasing an additional 4,979 shares in the last quarter. Barclays PLC lifted its position in shares of Crown Castle by 7.2% during 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 period. Coldstream Capital Management Inc. boosted its stake in Crown Castle by 5.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 9,103 shares of the real estate investment trust’s stock valued at $1,070,000 after buying an additional 461 shares in the last quarter. Bard Financial Services Inc. grew its position in Crown Castle by 6.6% in the third quarter. Bard Financial Services Inc. now owns 10,080 shares of the real estate investment trust’s stock valued at $1,196,000 after acquiring an additional 620 shares during the period. Finally, Anchor Investment Management LLC raised its stake in Crown Castle by 111.7% during the third quarter. Anchor Investment Management LLC now owns 1,397 shares of the real estate investment trust’s stock worth $166,000 after acquiring an additional 737 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

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.