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

OVERSEA CHINESE BANKING Corp Ltd bought a new position in Crown Castle Inc. (NYSE:CCI) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,062 shares of the real estate investment trust’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Crown Castle by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock worth $5,990,991,000 after purchasing an additional 673,243 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Crown Castle by 1.1% in the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock worth $603,518,000 after buying an additional 67,072 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Crown Castle by 10.7% in the second quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock valued at $387,333,000 after acquiring an additional 391,127 shares during the period. ClearBridge Investments Ltd grew its stake in Crown Castle by 19.4% during the first quarter. ClearBridge Investments Ltd now owns 2,632,855 shares of the real estate investment trust’s stock valued at $278,635,000 after acquiring an additional 428,597 shares in the last quarter. Finally, Cooke & Bieler LP increased its holdings in Crown Castle by 95.8% during the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock worth $251,962,000 after acquiring an additional 1,261,536 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $102.90 on Friday. 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 stock has a market cap of $44.72 billion, a PE ratio of 36.49 and a beta of 0.86. The company’s fifty day moving average is $112.51 and its 200 day moving average is $106.41. Crown Castle Inc. has a 52 week low of $92.48 and a 52 week high of $120.92.

Crown Castle (NYSE:CCI) last released 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm posted $1.77 EPS. The company’s revenue was down .9% on a year-over-year basis. Research analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have commented on CCI shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Citigroup set a $128.00 price objective on Crown Castle in a research note on Thursday, October 17th. Bank of America upped their target price on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Jefferies Financial Group lifted their price target on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, UBS Group boosted their price objective on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $116.87.

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.