Checchi Capital Advisers LLC Has $851,000 Stock Holdings in Crown Castle Inc. $CCI

Key Points

• Checchi Capital Advisers LLC reduced its stake in Crown Castle Inc. by 46.4%, holding 8,279 shares valued at $851,000 after selling 7,165 shares in the second quarter.
• Institutional investors now own 90.77% of Crown Castle's stock, with several hedge funds increasing their stakes during the last two quarters.
• Crown Castle recently declared a quarterly dividend of $1.0625 per share, translating to an annualized yield of 4.4%, despite a negative net margin of 85.54% reported in its latest earnings.

Checchi Capital Advisers LLC lessened its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 46.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 8,279 shares of the real estate investment trust's stock after selling 7,165 shares during the quarter. Checchi Capital Advisers LLC's holdings in Crown Castle were worth $851,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. CWA Asset Management Group LLC lifted its stake in shares of Crown Castle by 9.0% during the 1st quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust's stock worth $278,000 after buying an additional 219 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Crown Castle by 10.2% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust's stock worth $5,707,000 after buying an additional 5,144 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Crown Castle by 13.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust's stock worth $3,665,000 after buying an additional 4,276 shares during the last quarter. Legacy Advisors LLC acquired a new stake in shares of Crown Castle during the 1st quarter worth about $262,000. Finally, Everhart Financial Group Inc. acquired a new stake in Crown Castle in the 1st quarter worth about $307,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CCI. Weiss Ratings restated a "sell (d)" rating on shares of Crown Castle in a research report on Saturday, September 27th. Raymond James Financial reissued a "strong-buy" rating and set a $124.00 price target (up previously from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. Wall Street Zen raised Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. KeyCorp reduced their price target on Crown Castle from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 17th. Finally, UBS Group increased their price target on Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $115.76.

Crown Castle Trading Up 0.1%

Shares of NYSE:CCI opened at $95.57 on Monday. The firm has a 50 day moving average of $99.36 and a 200-day moving average of $101.09. The stock has a market capitalization of $41.62 billion, a PE ratio of -8.96, a PEG ratio of 0.73 and a beta of 0.95. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.89.

Crown Castle (NYSE:CCI - Get Free Report) last issued its 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. 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 revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, research analysts predict that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $1.0625 per share. 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%.

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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