Advisors Asset Management Inc. Has $18.30 Million Stock Position in Crown Castle Inc. $CCI

Key Points

• Advisors Asset Management Inc. increased its holdings in Crown Castle Inc. (CCI) by 16.4%, owning 175,592 shares valued at approximately $18.3 million after buying 24,729 additional shares in the first quarter.
• Crown Castle reported a quarterly earnings per share (EPS) of $1.02, exceeding analysts' expectations of $1.00, despite a 4.2% year-over-year revenue decline.
• The company announced a quarterly dividend of $1.0625 per share, yielding 4.3%, with the ex-dividend date set for September 15th.

Advisors Asset Management Inc. grew its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 16.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,592 shares of the real estate investment trust's stock after acquiring an additional 24,729 shares during the period. Advisors Asset Management Inc.'s holdings in Crown Castle were worth $18,302,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CCI. CHICAGO TRUST Co NA increased its position in shares of Crown Castle by 3.0% during the first quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock worth $368,000 after acquiring an additional 104 shares during the period. Harbour Investments Inc. grew its stake in shares of Crown Castle by 18.9% in the first quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust's stock worth $70,000 after acquiring an additional 107 shares in the last quarter. Abel Hall LLC lifted its position in Crown Castle by 1.8% in the first quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock valued at $666,000 after acquiring an additional 115 shares during the last quarter. Beacon Capital Management LLC raised its holdings in Crown Castle by 36.6% during the first quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock worth $47,000 after purchasing an additional 120 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Crown Castle by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust's stock worth $3,894,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CCI shares. Bank of America assumed coverage on shares of Crown Castle in a research note on Monday, May 19th. They issued a "buy" rating and a $115.00 price target on the stock. Wall Street Zen raised shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Raymond James Financial restated a "strong-buy" rating and set a $124.00 price objective (up from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. Wells Fargo & Company raised shares of Crown Castle from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $105.00 to $125.00 in a research note on Thursday, July 24th. Finally, Scotiabank increased their price objective on shares of Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Three 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 stock. According to MarketBeat.com, Crown Castle has a consensus rating of "Moderate Buy" and an average price target of $116.41.

Crown Castle Price Performance

NYSE CCI traded down $3.13 on Monday, hitting $93.02. The stock had a trading volume of 2,973,155 shares, compared to its average volume of 3,254,775. The stock has a market cap of $40.51 billion, a price-to-earnings ratio of -8.73, a price-to-earnings-growth ratio of 0.73 and a beta of 0.92. The business's fifty day moving average price is $103.52 and its 200 day moving average price is $101.43. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the company earned $1.62 EPS. Crown Castle's revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 4.6%. Crown Castle's dividend payout ratio is presently -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.