Harvest Fund Management Co. Ltd Acquires Shares of 545 Crown Castle Inc. (NYSE:CCI)

Harvest Fund Management Co. Ltd purchased a new position in shares of Crown Castle Inc. (NYSE:CCI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 545 shares of the real estate investment trust’s stock, valued at approximately $63,000.

Several other institutional investors also recently modified their holdings of the stock. Operose Advisors LLC bought a new stake in shares of Crown Castle in the third quarter worth $30,000. Valley National Advisers Inc. boosted its position in shares of Crown Castle by 51.1% during the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 97 shares in the last quarter. HHM Wealth Advisors LLC boosted its position in shares of Crown Castle by 154.8% during the 3rd quarter. HHM Wealth Advisors LLC now owns 395 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 240 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of Crown Castle by 43.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 372 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 113 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Crown Castle by 123.3% during the 3rd quarter. Larson Financial Group LLC now owns 480 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 265 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Up 1.4 %

CCI opened at $95.50 on Friday. The company has a 50 day moving average of $103.94 and a 200 day moving average of $105.25. The company has a market cap of $41.50 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 2.54 and a beta of 0.73. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $123.79. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 3.73.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.92). The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The firm’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period last year, the business posted $1.91 earnings per share. On average, sell-side analysts expect that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.55%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is 195.63%.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of research analyst reports. Scotiabank cut their price objective on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Wells Fargo & Company lowered their target price on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Bank of America lowered their target price on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Barclays upped their target price on shares of Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Royal Bank of Canada increased their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $113.29.

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.