Aberdeen Group plc Boosts Stock Holdings in Crown Castle Inc. $CCI

Key Points

• Aberdeen Group plc increased its stake in Crown Castle Inc. by 14.4% during the second quarter, now owning about 0.15% of the company, valued at $67 million.
• Several analysts have upgraded Crown Castle's stock ratings, with UBS raising its price target from $124.00 to $127.00 and assigning a "buy" rating.
• Crown Castle recently declared a quarterly dividend of $1.0625 per share, resulting in an annualized yield of 4.3%.

Aberdeen Group plc lifted its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 14.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 652,899 shares of the real estate investment trust's stock after purchasing an additional 82,317 shares during the period. Aberdeen Group plc owned 0.15% of Crown Castle worth $67,072,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CCI. Farther Finance Advisors LLC boosted its holdings in shares of Crown Castle by 10.1% during the first quarter. Farther Finance Advisors LLC now owns 3,886 shares of the real estate investment trust's stock worth $407,000 after purchasing an additional 357 shares during the period. Wealthcare Advisory Partners LLC boosted its holdings in shares of Crown Castle by 3.8% during the first quarter. Wealthcare Advisory Partners LLC now owns 4,439 shares of the real estate investment trust's stock worth $463,000 after purchasing an additional 163 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Crown Castle by 18.9% during the first quarter. GAMMA Investing LLC now owns 5,769 shares of the real estate investment trust's stock worth $601,000 after purchasing an additional 916 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Crown Castle by 6.3% during the first quarter. Assenagon Asset Management S.A. now owns 20,301 shares of the real estate investment trust's stock worth $2,116,000 after purchasing an additional 1,199 shares during the period. Finally, CX Institutional purchased a new stake in shares of Crown Castle during the first quarter worth about $258,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. UBS Group increased their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wolfe Research raised shares of Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 price target for the company in a research note on Monday, September 22nd. KeyCorp decreased their price target on shares of Crown Castle from $125.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, September 17th. Finally, Barclays raised their target price on shares of Crown Castle from $119.00 to $120.00 and gave the company an "overweight" rating in a research note on Monday, September 15th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $115.76.

Crown Castle Stock Up 1.2%

Shares of CCI opened at $97.74 on Friday. The company has a market capitalization of $42.56 billion, a P/E ratio of -9.16, a price-to-earnings-growth ratio of 0.74 and a beta of 0.95. The firm has a 50 day moving average of $98.22 and a 200 day moving average of $100.86. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.89.

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. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, sell-side analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.3%. Crown Castle's dividend payout ratio (DPR) is -39.83%.

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.

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