2,062 Shares in Crown Castle Inc. (NYSE:CCI) Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,062 shares of the real estate investment trust’s stock, valued at approximately $245,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Pinnacle Bancorp Inc. raised its holdings in shares of Crown Castle by 13.0% during the third quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 90 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in Crown Castle by 2.4% in the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 91 shares in the last quarter. Prosperity Consulting Group LLC lifted its position in shares of Crown Castle by 4.4% in the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 95 shares during the period. True North Advisors LLC boosted its stake in shares of Crown Castle by 4.2% during the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock valued at $278,000 after purchasing an additional 95 shares in the last quarter. Finally, Granite Investment Partners LLC increased its position in shares of Crown Castle by 0.5% during the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 0.1 %

Crown Castle stock opened at $102.90 on Friday. Crown Castle Inc. has a 12 month low of $92.48 and a 12 month high of $120.92. The stock has a fifty day simple moving average of $112.51 and a two-hundred day simple moving average of $106.41. The firm has a market cap of $44.72 billion, a price-to-earnings ratio of 36.49 and a beta of 0.86. 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 (NYSE:CCI) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. Crown Castle’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.77 earnings per share. Equities analysts predict that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date is Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

Wall Street Analyst Weigh In

CCI has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price target on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. TD Cowen lowered 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. Wells Fargo & Company upped their target price on shares of Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada increased their price target on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and an average target price of $116.87.

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.