1,405 Shares in Crown Castle Inc. (NYSE:CCI) Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd bought a new stake in Crown Castle Inc. (NYSE:CCI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,405 shares of the real estate investment trust’s stock, valued at approximately $167,000.

Several other large investors also recently modified their holdings of CCI. Legal & General Group Plc grew its position in shares of Crown Castle by 1.1% in 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 purchasing an additional 67,072 shares during the period. Fisher Asset Management LLC lifted its stake in Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after buying an additional 203,442 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Crown Castle by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,002,934 shares of the real estate investment trust’s stock valued at $593,498,000 after buying an additional 237,730 shares during the period. National Bank of Canada FI increased its position in shares of Crown Castle by 10.7% during the second quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock worth $387,333,000 after acquiring an additional 391,127 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Crown Castle by 25.4% during the third quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock worth $375,610,000 after acquiring an additional 642,010 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CCI. Jefferies Financial Group increased their target price on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. UBS Group boosted their target price on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company raised their price target on shares of Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, Bank of America boosted their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $116.87.

Crown Castle Stock Up 0.4 %

Crown Castle stock opened at $106.69 on Thursday. Crown Castle Inc. has a fifty-two week low of $92.48 and a fifty-two week high of $120.92. The firm has a market capitalization of $46.37 billion, a PE ratio of 37.83 and a beta of 0.86. The company’s 50-day moving average is $109.83 and its 200-day moving average is $106.98. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle (NYSE:CCI) last announced its quarterly 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). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the firm earned $1.77 EPS. Crown Castle’s quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.87%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio is 221.99%.

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.