Crown Castle Inc. $CCI Position Increased by Capital Investment Advisors LLC

Key Points

• Capital Investment Advisors LLC increased its position in Crown Castle Inc. by 7.6% in the second quarter, owning over 112,665 shares valued at approximately $11.57 million.
• Crown Castle's recent quarterly earnings showed an EPS of $1.02, surpassing estimates, but the company reported a 4.2% decrease in revenue year-over-year.
• Equities analysts have a consensus rating of "Moderate Buy" for Crown Castle, with an average target price of $115.82.

Capital Investment Advisors LLC increased its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,665 shares of the real estate investment trust's stock after acquiring an additional 7,945 shares during the period. Capital Investment Advisors LLC's holdings in Crown Castle were worth $11,574,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. CWA Asset Management Group LLC raised its holdings in Crown Castle by 9.0% during the first quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust's stock valued at $278,000 after buying an additional 219 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Crown Castle by 10.2% during the second 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 in the last quarter. Allspring Global Investments Holdings LLC grew its position in Crown Castle by 13.9% during the first 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 in the last quarter. Legacy Advisors LLC acquired a new stake in Crown Castle during the first quarter valued at approximately $262,000. Finally, Everhart Financial Group Inc. acquired a new stake in Crown Castle during the first quarter valued at approximately $307,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CCI shares. JPMorgan Chase & Co. lifted their price objective on Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Royal Bank Of Canada lifted their target price on shares of Crown Castle from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Wolfe Research upgraded shares of Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 target price for the company in a research note on Monday, September 22nd. JMP Securities reiterated a "market outperform" rating and issued a $125.00 target price on shares of Crown Castle in a research note on Thursday, July 24th. Finally, BMO Capital Markets upgraded shares of Crown Castle from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $115.00 to $120.00 in a research note on Tuesday, August 19th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $115.82.

Crown Castle Price Performance

CCI stock opened at $96.24 on Tuesday. The company has a 50 day moving average price of $100.61 and a 200 day moving average price of $101.33. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $119.56. The stock has a market capitalization of $41.91 billion, a PE ratio of -9.02, a price-to-earnings-growth ratio of 0.72 and a beta of 0.92.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings data 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. 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 during the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter in the previous year, the company posted $1.62 EPS. Crown Castle's revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, equities analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm 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. The ex-dividend date is Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.4%. Crown Castle's payout ratio is presently -39.83%.

About Crown Castle

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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