Boston Common Asset Management LLC Buys New Shares in Crown Castle Inc. $CCI

Key Points

• Boston Common Asset Management LLC has acquired a new stake in Crown Castle Inc., purchasing 57,156 shares valued at approximately $5.87 million in Q2.
• Crown Castle reported a negative net margin of 85.54% and earnings for the quarter of $1.02 per share, exceeding analyst estimates.
• Recent upgrades in stock ratings from various brokerages have set the price targets for Crown Castle between $115.00 and $127.00, reflecting positive analyst sentiment.

Boston Common Asset Management LLC bought a new stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 57,156 shares of the real estate investment trust's stock, valued at approximately $5,872,000.

Other large investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Crown Castle during the 1st quarter valued at $26,000. Iron Horse Wealth Management LLC bought a new stake in Crown Castle in the 1st quarter valued at $26,000. Centerpoint Advisors LLC bought a new stake in Crown Castle in the 1st quarter valued at $26,000. Stone House Investment Management LLC bought a new stake in Crown Castle in the 1st quarter valued at $27,000. Finally, Rise Advisors LLC bought a new stake in Crown Castle in the 1st quarter valued at $28,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

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

Crown Castle (NYSE:CCI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping 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 analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm earned $1.62 EPS. The firm's quarterly 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, sell-side analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.4%. Crown Castle's dividend payout ratio is currently -39.83%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CCI. BMO Capital Markets raised shares of Crown Castle from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $115.00 to $120.00 in a report on Tuesday, August 19th. UBS Group boosted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a report on Friday, July 25th. KeyCorp lowered their price target on shares of Crown Castle from $125.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, September 17th. Wall Street Zen raised shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, JMP Securities reissued a "market outperform" rating and issued a $125.00 price target on shares of Crown Castle in a report on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $115.76.

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.

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.