Concentric Capital Strategies LP Makes New Investment in Crown Castle Inc. $CCI

Key Points

• Concentric Capital Strategies LP has acquired a new stake in Crown Castle Inc., purchasing 8,561 shares valued at approximately $892,000 during the first quarter.
• Several other institutional investors increased their stakes, with Amundi reporting a 25.6% increase, now owning over 2.29 million shares valued at $246.2 million.
• Crown Castle recently announced a quarterly dividend of $1.0625, yielding 4.5% annually, with payouts set for September 30th.

Concentric Capital Strategies LP purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,561 shares of the real estate investment trust's stock, valued at approximately $892,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CCI. Opal Wealth Advisors LLC acquired a new stake in shares of Crown Castle during the first quarter worth $26,000. 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. Stone House Investment Management LLC acquired a new stake in shares of Crown Castle during the first quarter worth $27,000. Finally, American National Bank & Trust acquired a new stake in shares of Crown Castle during the first quarter worth $29,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of Crown Castle stock traded down $0.02 during midday trading on Wednesday, hitting $94.48. 522,894 shares of the company were exchanged, compared to its average volume of 3,303,187. The firm has a 50 day simple moving average of $103.15 and a 200-day simple moving average of $101.40. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The firm has a market cap of $41.14 billion, a P/E ratio of -8.86, a PEG ratio of 0.71 and a beta of 0.92.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.02. The firm had revenue of $1.06 billion for 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%. The company's revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Equities research analysts expect 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 issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.5%. The ex-dividend date is Monday, September 15th. Crown Castle's dividend payout ratio (DPR) is -39.83%.

Analyst Ratings Changes

A number of research firms recently weighed in on CCI. Bank of America began coverage on shares of Crown Castle in a report on Monday, May 19th. They issued a "buy" rating and a $115.00 price objective on the stock. 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. Wall Street Zen raised shares of Crown Castle from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Barclays decreased their price target on shares of Crown Castle from $121.00 to $119.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Finally, KeyCorp lifted 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. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $116.41.

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.