AlphaQuest LLC Has $1.20 Million Stock Position in Crown Castle Inc. $CCI

Key Points

• AlphaQuest LLC reduced its holdings in Crown Castle Inc. by 56.3% in the first quarter, leaving it with a total worth of $1.20 million after selling nearly 15,000 shares.
• Various institutional investors, including Allstate Corp and Compound Planning Inc., adjusted their positions in Crown Castle, with Allstate increasing its stake by 34.2%.
• Research firms have mixed outlooks for Crown Castle, with price targets ranging from $114.00 to $127.00 and a consensus rating of "Moderate Buy".

AlphaQuest LLC trimmed its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 56.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,546 shares of the real estate investment trust's stock after selling 14,882 shares during the quarter. AlphaQuest LLC's holdings in Crown Castle were worth $1,203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Allstate Corp boosted its holdings in shares of Crown Castle by 34.2% in the first quarter. Allstate Corp now owns 26,061 shares of the real estate investment trust's stock worth $2,716,000 after buying an additional 6,636 shares during the period. Compound Planning Inc. boosted its holdings in shares of Crown Castle by 22.0% during the first quarter. Compound Planning Inc. now owns 2,803 shares of the real estate investment trust's stock worth $292,000 after purchasing an additional 506 shares during the period. Hobbs Group Advisors LLC acquired a new stake in shares of Crown Castle during the first quarter worth approximately $243,000. Norinchukin Bank The boosted its holdings in shares of Crown Castle by 15.7% during the first quarter. Norinchukin Bank The now owns 23,230 shares of the real estate investment trust's stock worth $2,421,000 after purchasing an additional 3,154 shares during the period. Finally, Mosaic Financial Group LLC acquired a new stake in shares of Crown Castle during the first quarter worth approximately $205,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CCI. Barclays decreased their price target on shares of Crown Castle from $121.00 to $119.00 and set an "overweight" rating for the company in a report on Monday, August 18th. UBS Group raised their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a report on Friday, July 25th. BMO Capital Markets upgraded shares of Crown Castle from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $115.00 to $120.00 in a report on Tuesday, August 19th. Citigroup raised their price target on shares of Crown Castle from $108.00 to $124.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Scotiabank raised their price target on shares of Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Crown Castle has a consensus rating of "Moderate Buy" and an average target price of $116.41.

Crown Castle Stock Performance

Shares of CCI opened at $103.6630 on Friday. The firm has a market cap of $45.14 billion, a PE ratio of -9.72, a PEG ratio of 0.79 and a beta of 0.89. The firm's 50 day moving average price is $103.87 and its 200 day moving average price is $100.72. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company's revenue for the quarter was down 4.2% on a year-over-year basis. 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 anticipate 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. 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 dividend on an annualized basis and a dividend yield of 4.1%. Crown Castle's dividend payout ratio (DPR) is currently -39.83%.

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.

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