Crown Castle Inc. $CCI Stock Holdings Increased by Chiron Capital Management LLC

Key Points

• Chiron Capital Management LLC increased its stake in Crown Castle Inc. by 52.0%, owning a total of 26,033 shares, which is about 2.5% of its overall holdings.
• The latest quarterly earnings report revealed a revenue of $1.06 billion, exceeding analyst expectations, despite a 4.2% decline in revenue compared to the previous year.
• Crown Castle announced a quarterly dividend of $1.0625, setting an annualized yield of 4.3%, with a payout ratio of -39.83%.

Chiron Capital Management LLC lifted its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 52.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,033 shares of the real estate investment trust's stock after purchasing an additional 8,908 shares during the period. Crown Castle comprises 2.5% of Chiron Capital Management LLC's portfolio, making the stock its 3rd largest holding. Chiron Capital Management LLC's holdings in Crown Castle were worth $2,713,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Iron Horse Wealth Management LLC purchased a new stake in shares of Crown Castle in the first quarter worth $26,000. Centerpoint Advisors LLC purchased a new stake in shares of Crown Castle in the first quarter worth $26,000. Opal Wealth Advisors LLC purchased a new position in Crown Castle during the first quarter valued at $26,000. Stone House Investment Management LLC purchased a new position in Crown Castle during the first quarter valued at $27,000. Finally, American National Bank & Trust purchased a new position in Crown Castle during the first quarter valued at $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 weighed in on the stock. KeyCorp raised their target price on shares of Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Bank of America started coverage on shares of Crown Castle in a report on Monday, May 19th. They issued a "buy" rating and a $115.00 target price for the company. Raymond James Financial reiterated a "strong-buy" rating and set a $124.00 price objective (up previously from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. Finally, Barclays cut their target price on shares of Crown Castle from $121.00 to $119.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Three research 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $116.41.

Crown Castle Price Performance

NYSE:CCI traded up $0.46 during trading hours on Friday, hitting $95.92. 5,239,376 shares of the company were exchanged, compared to its average volume of 3,250,311. The stock has a market capitalization of $41.77 billion, a price-to-earnings ratio of -8.99, a PEG ratio of 0.73 and a beta of 0.92. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The company's 50 day moving average price is $103.52 and its 200-day moving average price is $101.43.

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 for the quarter, topping the consensus estimate of $1.00 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, equities analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently announced 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. This represents a $4.25 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle's payout ratio is currently -39.83%.

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.