Bard Financial Services Inc. Sells 3,525 Shares of Crown Castle Inc. $CCI

Key Points

• Bard Financial Services Inc. sold 3,525 shares of Crown Castle Inc., reducing its stake by 39.8% in the second quarter, now holding 5,325 shares valued at $547,000.
• Crown Castle reported earnings per share of $1.02 for the last quarter, exceeding the consensus estimate of $1.00, with a revenue of $1.06 billion.
• The company announced a quarterly dividend of $1.0625 per share, which is set to yield 4.5%, with a dividend payout ratio of -39.83%.

Bard Financial Services Inc. lowered its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 39.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,325 shares of the real estate investment trust's stock after selling 3,525 shares during the quarter. Bard Financial Services Inc.'s holdings in Crown Castle were worth $547,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in shares of Crown Castle by 3.8% in the fourth quarter. Janus Henderson Group PLC now owns 64,672 shares of the real estate investment trust's stock valued at $5,869,000 after purchasing an additional 2,396 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Crown Castle in the 4th quarter valued at $280,000. Man Group plc raised its position in shares of Crown Castle by 423.1% during the fourth quarter. Man Group plc now owns 53,271 shares of the real estate investment trust's stock worth $4,835,000 after acquiring an additional 43,087 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of Crown Castle by 131.7% during the fourth quarter. Quantinno Capital Management LP now owns 27,505 shares of the real estate investment trust's stock valued at $2,496,000 after acquiring an additional 15,633 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in Crown Castle by 1.9% in the fourth quarter. ProShare Advisors LLC now owns 111,571 shares of the real estate investment trust's stock valued at $10,126,000 after acquiring an additional 2,125 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Performance

NYSE CCI opened at $95.42 on Monday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The stock's 50 day moving average price is $102.67 and its two-hundred day moving average price is $101.51. The stock has a market capitalization of $41.55 billion, a price-to-earnings ratio of -8.94, a PEG ratio of 0.72 and a beta of 0.92.

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

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date is Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.5%. Crown Castle's dividend payout ratio (DPR) is -39.83%.

Analyst Ratings Changes

A number of research firms recently weighed in on CCI. Scotiabank boosted their price target on shares of Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Bank of America assumed coverage on shares of Crown Castle in a research report on Monday, May 19th. They set a "buy" rating and a $115.00 target price for the company. BMO Capital Markets raised Crown Castle from a "market perform" rating to an "outperform" rating and increased their price target for the company from $115.00 to $120.00 in a research note on Tuesday, August 19th. Wall Street Zen raised Crown Castle from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, KeyCorp upped their price objective on Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $116.41.

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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