Avior Wealth Management LLC Buys 10,179 Shares of Crown Castle Inc. $CCI

Key Points

• Avior Wealth Management LLC increased its stake in Crown Castle Inc. by 1,175.4% in Q2, owning a total of 11,045 shares valued at approximately $1,135,000 after acquiring 10,179 shares.
• Wall Street analysts have generally positive outlooks on Crown Castle, with multiple firms raising their price targets and issuing ratings ranging from "Strong Buy" to "Outperform," including a consensus price target of $115.82.
• Crown Castle recently declared a quarterly dividend of $1.0625 per share, resulting in an annualized dividend of $4.25 and a dividend yield of 4.4%.

Avior Wealth Management LLC grew its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 1,175.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,045 shares of the real estate investment trust's stock after acquiring an additional 10,179 shares during the period. Avior Wealth Management LLC's holdings in Crown Castle were worth $1,135,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in shares of Crown Castle in the first quarter worth about $26,000. Iron Horse Wealth Management LLC bought a new position in shares of Crown Castle in the first quarter worth about $26,000. Centerpoint Advisors LLC bought a new stake in shares of Crown Castle during the first quarter worth approximately $26,000. Stone House Investment Management LLC bought a new stake in shares of Crown Castle during the first quarter worth approximately $27,000. Finally, Rise Advisors LLC bought a new stake in shares of Crown Castle during the first quarter worth approximately $28,000. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of recent research reports. Raymond James Financial reissued a "strong-buy" rating and set a $124.00 price target (up from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Royal Bank Of Canada boosted their price target on shares of Crown Castle from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Wolfe Research raised shares of Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 price target for the company in a research note on Monday, September 22nd. Barclays boosted their price target on shares of Crown Castle from $119.00 to $120.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. Finally, BMO Capital Markets upgraded shares of Crown Castle from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $115.00 to $120.00 in a report on Tuesday, August 19th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Crown Castle has an average rating of "Moderate Buy" and a consensus price target of $115.82.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $96.24 on Tuesday. The stock has a market cap of $41.91 billion, a P/E ratio of -9.02, a P/E/G ratio of 0.72 and a beta of 0.92. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $119.56. The firm has a 50 day moving average price of $100.61 and a 200 day moving average price of $101.33.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Monday, September 15th. Crown Castle's dividend payout ratio is -39.83%.

About Crown Castle

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.

Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Castle Inc. (NYSE:CCI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.