Crown Castle Inc. $CCI Shares Bought by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. increased its holdings in Crown Castle Inc. by 6.1%, now owning 691,172 shares worth approximately $72.04 million.
• Crown Castle's latest quarterly earnings report indicated earnings per share of $1.02, slightly beating estimates, but revenue saw a 4.2% decrease year-over-year.
• The company declared a quarterly dividend of $1.0625 per share, with an annualized yield of 4.4%, set to be paid on September 30th.

Alliancebernstein L.P. lifted its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 691,172 shares of the real estate investment trust's stock after purchasing an additional 39,604 shares during the period. Alliancebernstein L.P. owned about 0.16% of Crown Castle worth $72,041,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CCI. Iron Horse Wealth Management LLC purchased a new stake in Crown Castle during the 1st quarter worth approximately $26,000. Centerpoint Advisors LLC acquired a new position in shares of Crown Castle during the 1st quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Crown Castle during the 1st quarter worth approximately $26,000. Stone House Investment Management LLC acquired a new position in Crown Castle in the first quarter valued at approximately $27,000. Finally, American National Bank & Trust acquired a new position in Crown Castle during the first quarter worth $29,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. KeyCorp raised their price target on Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Wells Fargo & Company raised Crown Castle from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $105.00 to $125.00 in a report on Thursday, July 24th. UBS Group lifted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. boosted their price target on Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. 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 company. According to data from MarketBeat.com, Crown Castle has a consensus rating of "Moderate Buy" and a consensus target price of $116.41.

Crown Castle Price Performance

Shares of NYSE CCI traded up $0.59 during trading on Tuesday, hitting $94.47. The stock had a trading volume of 8,184,786 shares, compared to its average volume of 3,576,708. The company has a market capitalization of $41.14 billion, a PE ratio of -8.85, a PEG ratio of 0.71 and a beta of 0.92. The firm has a fifty day moving average of $103.15 and a two-hundred day moving average of $101.40. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS 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 the consensus estimate of $1.04 billion. During the same period in the prior year, the firm earned $1.62 earnings per share. The company's revenue 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. On average, equities analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, September 15th. Crown Castle's payout ratio is currently -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.