Crown Castle Inc. $CCI Shares Bought by BROOKFIELD Corp ON

Key Points

• BROOKFIELD Corp ON significantly increased its stake in Crown Castle Inc. by 1,919.4% during the first quarter, acquiring 806,271 additional shares, bringing its total to 848,277 shares.
• Crown Castle recently reported Q2 earnings of $1.02 per share, exceeding analyst expectations, although revenue decreased by 4.2% compared to the previous year.
• The company declared a quarterly dividend of $1.0625 per share, reflecting a 4.4% yield, with the ex-dividend date set for September 15th.

BROOKFIELD Corp ON boosted its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 1,919.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 848,277 shares of the real estate investment trust's stock after purchasing an additional 806,271 shares during the period. Crown Castle comprises approximately 0.5% of BROOKFIELD Corp ON's holdings, making the stock its 26th largest position. BROOKFIELD Corp ON owned about 0.19% of Crown Castle worth $88,416,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in Crown Castle in the first quarter valued at about $26,000. Iron Horse Wealth Management LLC purchased a new position in Crown Castle in the first quarter valued at about $26,000. Centerpoint Advisors LLC purchased a new position in Crown Castle in the first quarter valued at about $26,000. Stone House Investment Management LLC purchased a new position in Crown Castle in the first quarter valued at about $27,000. Finally, Rise Advisors LLC purchased a new position in Crown Castle in the first quarter valued at about $28,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CCI. Royal Bank Of Canada increased their target price on shares of Crown Castle from $112.00 to $113.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on shares of Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Wells Fargo & Company raised shares of Crown Castle from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $105.00 to $125.00 in a report on Thursday, July 24th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $124.00 target price (up from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. Finally, KeyCorp raised their price objective on shares of Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $116.41.

Crown Castle Stock Performance

NYSE CCI traded down $0.16 during mid-day trading on Friday, reaching $95.42. 2,929,959 shares of the stock were exchanged, compared to its average volume of 3,654,982. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The business's fifty day simple moving average is $102.67 and its 200 day simple moving average is $101.51. The stock has a market capitalization of $41.55 billion, a PE ratio of -8.94, a PEG ratio of 0.72 and a beta of 0.92.

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, topping analysts' consensus estimates 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 business earned $1.62 earnings per share. Crown Castle's revenue 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, analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

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 dividend yield of 4.5%. The ex-dividend date is Monday, September 15th. Crown Castle's dividend payout ratio (DPR) is -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.