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

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

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

Crown Castle Stock Performance

Shares of CCI stock opened at $103.80 on Friday. The stock has a market capitalization of $45.11 billion, a PE ratio of 36.81 and a beta of 0.86. The business’s 50 day simple moving average is $112.29 and its 200 day simple moving average is $106.38. 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 Inc. has a one year low of $92.48 and a one year high of $120.92.

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

Crown Castle Announces Dividend

The business 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 annualized dividend and a dividend yield of 6.03%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Jefferies Financial Group boosted their target price on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their price target on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, Citigroup set a $128.00 target price on Crown Castle in a research report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.