Cbre Investment Management Listed Real Assets LLC Grows Stock Position in Crown Castle Inc. $CCI

Key Points

• Cbre Investment Management Listed Real Assets LLC increased its stake in Crown Castle Inc. by 1.1%, acquiring an additional 8,308 shares during the first quarter, bringing its total holdings to 751,212 shares valued at approximately $78.3 million.
• Crown Castle recently reported earnings per share (EPS) of $1.02 for the last quarter, surpassing estimates and resulted in a 4.2% decline in revenue year-over-year.
• The company announced a quarterly dividend of $1.0625, with a dividend yield of 4.1%, and plans to pay this to stockholders of record on September 15th.

Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 751,212 shares of the real estate investment trust's stock after purchasing an additional 8,308 shares during the period. Cbre Investment Management Listed Real Assets LLC owned about 0.17% of Crown Castle worth $78,299,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Iron Horse Wealth Management LLC purchased a new position in shares of Crown Castle during the 1st quarter worth approximately $26,000. Centerpoint Advisors LLC purchased a new position in shares of Crown Castle during the 1st quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Crown Castle during the 1st quarter worth approximately $26,000. Stone House Investment Management LLC purchased a new position in shares of Crown Castle during the 1st quarter worth approximately $27,000. Finally, American National Bank & Trust purchased a new position in shares of Crown Castle during the first quarter valued at approximately $29,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays reduced their price objective on shares of Crown Castle from $121.00 to $119.00 and set an "overweight" rating on the stock in a research note on Monday, August 18th. Scotiabank upped their price objective on shares of Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. New Street Research raised shares of Crown Castle from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 1st. BMO Capital Markets raised shares of Crown Castle from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $115.00 to $120.00 in a research note on Tuesday, August 19th. Finally, Wells Fargo & Company raised shares of Crown Castle from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $105.00 to $125.00 in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $116.41.

Crown Castle Price Performance

NYSE CCI traded down $1.48 during mid-day trading on Tuesday, hitting $101.49. The company's stock had a trading volume of 4,864,541 shares, compared to its average volume of 3,036,030. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The stock's fifty day simple moving average is $103.95 and its two-hundred day simple moving average is $100.89. The firm has a market capitalization of $44.19 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 0.78 and a beta of 0.89.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, beating 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 firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $1.62 earnings per share. Crown Castle's revenue for the quarter 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. On average, equities analysts forecast 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. Shareholders of record on Monday, September 15th will be issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Monday, September 15th. Crown Castle's dividend payout ratio is currently -39.83%.

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.