Harvest Portfolios Group Inc. Increases Stake in Crown Castle Inc. (NYSE:CCI)

Harvest Portfolios Group Inc. increased its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 140.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,069 shares of the real estate investment trust's stock after purchasing an additional 5,300 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in Crown Castle were worth $1,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Catalyst Capital Advisors LLC bought a new stake in shares of Crown Castle during the 3rd quarter valued at $25,000. EntryPoint Capital LLC purchased a new stake in Crown Castle in the first quarter worth about $27,000. Rosenberg Matthew Hamilton increased its stake in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 136 shares in the last quarter. Asset Dedication LLC lifted its holdings in shares of Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 167 shares during the last quarter. Finally, Beacon Capital Management LLC boosted its position in shares of Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. TD Cowen reduced their price objective on Crown Castle from $127.00 to $123.00 and set a "buy" rating for the company in a research report on Thursday, October 17th. Jefferies Financial Group raised their price target on Crown Castle from $123.00 to $127.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Wells Fargo & Company upped 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. BMO Capital Markets raised their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the company a "market perform" rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada lifted their target price on shares of Crown Castle from $104.00 to $109.00 and gave the stock a "sector perform" rating in a report on Monday, October 28th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $116.87.

Crown Castle Stock Performance

Crown Castle stock traded up $0.66 during midday trading on Thursday, reaching $104.13. 790,583 shares of the company traded hands, compared to its average volume of 2,611,527. The firm has a market capitalization of $45.25 billion, a price-to-earnings ratio of 36.69 and a beta of 0.86. The business has a 50 day moving average of $113.39 and a two-hundred day moving average of $106.09. Crown Castle Inc. has a 12 month low of $92.48 and a 12 month high of $120.92. 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 - Get Free Report) last issued its quarterly earnings data 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). The company 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%. The firm's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the company earned $1.77 EPS. As a group, research analysts predict that Crown Castle Inc. will post 6.65 earnings per share for the current year.

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.