Aberdeen Group plc Has $59.17 Million Stake in Crown Castle Inc. $CCI

Key Points

• Aberdeen Group plc has reduced its stake in Crown Castle Inc. (CCI) by 54.6%, owning 570,582 shares after selling 686,944 shares in the 1st quarter, representing a value of approximately $59.17 million.
• Several analysts have increased their price targets for Crown Castle, with Barclays setting a new target of $121 and a rating of "overweight," while the average target price across analysts is $116.24 with a consensus rating of "Moderate Buy."
• Crown Castle announced a quarterly dividend of $1.0625 per share to be paid on September 30th, reflecting an annualized yield of 4.2%, with a notable dividend payout ratio currently at -39.83%.

Aberdeen Group plc decreased its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 54.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 570,582 shares of the real estate investment trust's stock after selling 686,944 shares during the period. Aberdeen Group plc owned about 0.13% of Crown Castle worth $59,172,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWA Asset Management Group LLC raised its stake 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 buying an additional 219 shares during the period. Allspring Global Investments Holdings LLC raised its stake 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 buying an additional 4,276 shares during the period. Legacy Advisors LLC bought a new stake in Crown Castle in the first quarter valued at approximately $262,000. Everhart Financial Group Inc. bought a new stake in Crown Castle in the first quarter valued at approximately $307,000. Finally, QRG Capital Management Inc. raised its stake in Crown Castle by 7.2% in the first quarter. QRG Capital Management Inc. now owns 43,780 shares of the real estate investment trust's stock valued at $4,563,000 after buying an additional 2,943 shares during the period. Institutional investors own 90.77% of the company's stock.

Crown Castle Price Performance

NYSE:CCI traded up $0.4710 during trading hours on Wednesday, reaching $102.8910. 2,497,920 shares of the company were exchanged, compared to its average volume of 3,233,477. The company has a market capitalization of $44.81 billion, a P/E ratio of -9.65, a P/E/G ratio of 0.76 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. The business has a 50 day moving average of $103.64 and a 200 day moving average of $100.44.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the company posted $1.62 EPS. The company'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. As a group, equities research analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $1.0625 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.1%. Crown Castle's dividend payout ratio (DPR) is presently -39.83%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. JMP Securities reiterated a "market outperform" rating and set a $125.00 target price on shares of Crown Castle in a research note on Thursday, July 24th. BMO Capital Markets upgraded Crown Castle from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $115.00 to $120.00 in a research note on Tuesday. KeyCorp increased their target price on Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wells Fargo & Company upgraded Crown Castle from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $105.00 to $125.00 in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada increased their target price on Crown Castle from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $116.41.

Crown Castle 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.