Oppenheimer & Co. Inc. Buys 499 Shares of Crown Castle Inc. (NYSE:CCI)

Oppenheimer & Co. Inc. boosted its position in Crown Castle Inc. (NYSE:CCI) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,657 shares of the real estate investment trust’s stock after buying an additional 499 shares during the period. Oppenheimer & Co. Inc.’s holdings in Crown Castle were worth $3,400,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp grew its stake in Crown Castle by 24.7% in the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after acquiring an additional 31,319 shares during the period. BOKF NA lifted its holdings in shares of Crown Castle by 25.6% in the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock worth $417,000 after purchasing an additional 815 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in Crown Castle by 30.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock valued at $3,789,000 after purchasing an additional 8,346 shares during the period. OLD National Bancorp IN increased its stake in Crown Castle by 23.8% during the 2nd quarter. OLD National Bancorp IN now owns 91,118 shares of the real estate investment trust’s stock valued at $8,902,000 after purchasing an additional 17,529 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Crown Castle by 1.2% during the first quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock worth $5,990,991,000 after buying an additional 673,243 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Up 0.9 %

Crown Castle stock opened at $103.80 on Friday. The firm has a 50 day moving average price of $112.29 and a 200-day moving average price of $106.38. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92. The company has a market capitalization of $45.11 billion, a P/E ratio of 36.81 and a beta of 0.86.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.03). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. Crown Castle’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the company posted $1.77 earnings per share. As a group, equities analysts predict that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CCI. Royal Bank of Canada boosted their target price on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Wells Fargo & Company increased their price objective on Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. UBS Group lifted their target price on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their price objective on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, Jefferies Financial Group lifted their price objective on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $116.87.

Crown Castle 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.