ASR Vermogensbeheer N.V. Acquires 4,230 Shares of Crown Castle Inc. $CCI

Key Points

• ASR Vermogensbeheer N.V. increased its stake in Crown Castle Inc. by 57.9%, now holding 11,533 shares valued at approximately $1.185 million.
• Crown Castle has received multiple upgrades in target price from analysts, with JPMorgan Chase raising it from $115 to $120 and UBS increasing it from $124 to $127.
• The company recently announced a quarterly dividend of $1.0625 per share, representing an annual yield of 4.4%, with a payout ratio of -39.83%.

ASR Vermogensbeheer N.V. lifted its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 57.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,533 shares of the real estate investment trust's stock after acquiring an additional 4,230 shares during the period. ASR Vermogensbeheer N.V.'s holdings in Crown Castle were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CCI. Robeco Institutional Asset Management B.V. grew its stake in shares of Crown Castle by 435.3% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 394,281 shares of the real estate investment trust's stock valued at $40,504,000 after buying an additional 320,631 shares during the period. Woodward Diversified Capital LLC acquired a new stake in shares of Crown Castle in the 2nd quarter valued at about $333,000. Chicago Capital LLC grew its stake in shares of Crown Castle by 50.1% in the 2nd quarter. Chicago Capital LLC now owns 11,620 shares of the real estate investment trust's stock valued at $1,194,000 after buying an additional 3,878 shares during the period. Capital Investment Advisors LLC grew its stake in shares of Crown Castle by 7.6% in the 2nd quarter. Capital Investment Advisors LLC now owns 112,665 shares of the real estate investment trust's stock valued at $11,574,000 after buying an additional 7,945 shares during the period. Finally, HB Wealth Management LLC grew its stake in shares of Crown Castle by 11.5% in the 2nd quarter. HB Wealth Management LLC now owns 14,865 shares of the real estate investment trust's stock valued at $1,527,000 after buying an additional 1,533 shares during the period. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CCI has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Royal Bank Of Canada set a $112.00 target price on Crown Castle and gave the company an "outperform" rating in a research note on Wednesday. BMO Capital Markets upgraded Crown Castle from a "market perform" rating to an "outperform" rating and raised their target price for the company from $115.00 to $120.00 in a research note on Tuesday, August 19th. UBS Group lifted their price target on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Scotiabank lifted their price target on 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 investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Crown Castle has a consensus rating of "Moderate Buy" and a consensus target price of $115.76.

Crown Castle Stock Up 0.1%

Shares of NYSE CCI opened at $95.57 on Friday. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.89. The stock's 50 day moving average price is $99.36 and its 200-day moving average price is $101.12. The company has a market capitalization of $41.62 billion, a PE ratio of -8.96, a PEG ratio of 0.73 and a beta of 0.95.

Crown Castle (NYSE:CCI - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business earned $1.62 EPS. 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. As a group, research analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Monday, September 15th. Crown Castle's 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.

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