Callan Family Office LLC Purchases New Stake in Crown Castle Inc. $CCI

Key Points

• Callan Family Office LLC has acquired a new stake in Crown Castle Inc. (NYSE: CCI), purchasing 7,491 shares worth approximately $770,000.
• Crown Castle recently announced a quarterly dividend of $1.0625 per share, translating to an annual yield of 4.4%.
• Following their latest earnings report, which showed a drop in revenue compared to the previous year, analysts have a consensus rating of "Moderate Buy" for Crown Castle with an average price target of $115.76.

Callan Family Office LLC purchased a new stake in Crown Castle Inc. (NYSE:CCI - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,491 shares of the real estate investment trust's stock, valued at approximately $770,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC acquired a new stake in shares of Crown Castle during the first quarter worth $26,000. Centerpoint Advisors LLC acquired a new stake in shares of Crown Castle during the first quarter worth $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Crown Castle during the first quarter worth $26,000. Stone House Investment Management LLC acquired a new stake in shares of Crown Castle during the first quarter worth $27,000. Finally, Rise Advisors LLC acquired a new stake in shares of Crown Castle during the first quarter worth $28,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Down 1.5%

Shares of CCI opened at $96.13 on Tuesday. The firm has a 50-day moving average price of $98.00 and a 200 day moving average price of $100.80. The firm has a market capitalization of $41.86 billion, a PE ratio of -9.01, a P/E/G ratio of 0.74 and a beta of 0.95. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $115.89.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.02. The firm had revenue of $1.06 billion during 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%. Crown Castle's revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, equities analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CCI. JPMorgan Chase & Co. increased their target price on shares of Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. BMO Capital Markets raised shares of Crown Castle from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $115.00 to $120.00 in a report on Tuesday, August 19th. Raymond James Financial reissued a "strong-buy" rating and set a $124.00 target price (up from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. Royal Bank Of Canada set a $112.00 price objective on shares of Crown Castle and gave the stock an "outperform" rating in a report on Wednesday, October 1st. Finally, UBS Group increased their price objective 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. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $115.76.

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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