21,174 Shares in Crown Castle Inc. $CCI Purchased by NewEdge Wealth LLC

Key Points

• NewEdge Wealth purchased 21,174 Crown Castle shares worth approximately $1.6 million in the second quarter. Other institutional investors also added positions, and institutions now own 90.77% of the stock.
• Crown Castle reported quarterly earnings of $0.22 per share, missing estimates of $0.39, while revenue of $1.01 billion exceeded expectations. Revenue declined 4.9% year over year, and the stock recently traded near $75.53.
• The company declared a quarterly dividend of $1.0625, equivalent to an annualized $4.25 payout and a 5.6% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $95.13.

NewEdge Wealth LLC purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 21,174 shares of the real estate investment trust's stock, valued at approximately $1,604,000.

A number of other large investors have also recently made changes to their positions in the business. Compass Wealth Management LLC purchased a new position in shares of Crown Castle during the second quarter valued at approximately $5,421,000. Danske Bank A S purchased a new stake in Crown Castle in the second quarter worth $15,711,000. Wealthfront Advisers LLC bought a new stake in Crown Castle in the second quarter valued at $6,543,000. Ontario Teachers Pension Plan Board bought a new stake in Crown Castle in the second quarter valued at $126,337,000. Finally, First National Bank of Omaha purchased a new position in Crown Castle during the 2nd quarter valued at $10,163,000. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Trading Up 0.2%

Shares of Crown Castle stock opened at $75.53 on Friday. The firm has a market capitalization of $32.13 billion, a P/E ratio of 38.34, a P/E/G ratio of 0.40 and a beta of 0.95. The business has a fifty day simple moving average of $77.86 and a two-hundred day simple moving average of $84.11. Crown Castle Inc. has a 12 month low of $69.72 and a 12 month high of $104.61.

Crown Castle (NYSE:CCI - Get Free Report) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.17). The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $995.05 million. Crown Castle had a negative return on equity of 51.60% and a net margin of 20.71%.The firm's quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 earnings per share. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Analysts predict that Crown Castle Inc. will post 4.39 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Tuesday, September 15th. Crown Castle's dividend payout ratio is 215.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CCI shares. Royal Bank Of Canada dropped their target price on shares of Crown Castle from $92.00 to $90.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. TD Cowen reduced their price target on shares of Crown Castle from $94.00 to $92.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Citigroup reissued a "market outperform" rating on shares of Crown Castle in a research note on Friday, July 24th. Truist Financial lowered their price objective on shares of Crown Castle from $95.00 to $87.00 and set a "hold" rating for the company in a report on Tuesday, July 28th. Finally, The Goldman Sachs Group began coverage on Crown Castle in a research report on Friday, June 26th. They set a "neutral" rating and a $95.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.13.

Insiders Place Their Bets

In other Crown Castle news, VP Robert Sean Collins sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $75.89, for a total transaction of $113,835.00. Following the completion of the transaction, the vice president owned 5,113 shares of the company's stock, valued at approximately $388,025.57. This trade represents a 22.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.09% of the company's stock.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company's assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.

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