13,000 Shares in Crown Castle Inc. (NYSE:CCI) Bought by Oak Harvest Investment Services

Oak Harvest Investment Services bought a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,000 shares of the real estate investment trust's stock, valued at approximately $1,542,000.

Several other large investors have also recently added to or reduced their stakes in CCI. Pinnacle Bancorp Inc. raised its holdings in shares of Crown Castle by 13.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust's stock worth $93,000 after purchasing an additional 90 shares during the period. Pathway Financial Advisers LLC raised its holdings in shares of Crown Castle by 2.4% during the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust's stock valued at $376,000 after buying an additional 91 shares during the period. Prosperity Consulting Group LLC raised its holdings in shares of Crown Castle by 4.4% during the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust's stock valued at $221,000 after buying an additional 95 shares during the period. True North Advisors LLC raised its holdings in shares of Crown Castle by 4.2% during the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust's stock valued at $278,000 after buying an additional 95 shares during the period. Finally, Granite Investment Partners LLC raised its holdings in shares of Crown Castle by 0.5% during the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust's stock valued at $1,899,000 after buying an additional 100 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

Crown Castle stock traded down $0.31 during mid-day trading on Thursday, hitting $107.50. 1,702,685 shares of the company's stock traded hands, compared to its average volume of 2,624,168. The firm has a 50 day moving average price of $113.89 and a 200 day moving average price of $105.67. The company has a quick ratio of 0.43, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a market cap of $46.72 billion, a PE ratio of 38.12 and a beta of 0.85. Crown Castle Inc. has a one year low of $90.81 and a one year high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last announced its earnings results 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 business 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 was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.77 EPS. On average, equities analysts forecast that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date was Friday, September 13th. Crown Castle's dividend payout ratio is presently 221.99%.

Analyst Ratings Changes

Several equities research analysts recently commented on CCI shares. Citigroup set a $128.00 target price on Crown Castle in a report on Thursday, October 17th. Barclays raised their target price on Crown Castle from $112.00 to $116.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. 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. Deutsche Bank Aktiengesellschaft raised their price objective on Crown Castle from $103.00 to $105.00 and gave the company a "hold" rating in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group raised their price objective on Crown Castle from $105.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, September 26th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Crown Castle presently has a consensus rating of "Hold" and a consensus price target of $116.80.

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.