Quantbot Technologies LP bought a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 34,872 shares of the real estate investment trust's stock, valued at approximately $3,635,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC increased its holdings in Crown Castle by 9.0% in the first quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust's stock valued at $278,000 after purchasing an additional 219 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Crown Castle by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust's stock valued at $3,665,000 after purchasing an additional 4,276 shares during the period. Legacy Advisors LLC acquired a new stake in Crown Castle in the first quarter valued at $262,000. Everhart Financial Group Inc. acquired a new stake in Crown Castle in the first quarter valued at $307,000. Finally, Inspire Trust Co. N.A. increased its holdings in Crown Castle by 25.0% in the first quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust's stock valued at $2,085,000 after purchasing an additional 4,000 shares during the period. 90.77% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts recently weighed in on CCI shares. BMO Capital Markets upgraded Crown Castle from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $115.00 to $120.00 in a report on Tuesday. KeyCorp increased their price target on Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Wall Street Zen upgraded Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. increased their price target on Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Scotiabank increased their price target on Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $116.41.
Read Our Latest Analysis on CCI
Crown Castle Price Performance
Shares of CCI traded up $0.8630 during trading hours on Friday, hitting $103.6630. The stock had a trading volume of 2,387,772 shares, compared to its average volume of 3,211,609. The firm has a 50 day simple moving average of $103.87 and a 200-day simple moving average of $100.65. The firm has a market capitalization of $45.14 billion, a P/E ratio of -9.72, a price-to-earnings-growth ratio of 0.78 and a beta of 0.89. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.
Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.02. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter last year, the firm earned $1.62 EPS. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Equities analysts predict that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.
Crown Castle Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $1.0625 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.1%. Crown Castle's dividend payout ratio (DPR) is presently -39.83%.
About Crown Castle
(
Free Report)
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.
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