Crown Castle Inc. $CCI Shares Acquired by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management RIA LLC has increased its holdings in Crown Castle Inc. by 57.2% during the 2nd quarter, bringing its ownership to 19,657 shares valued at approximately $2,019,000.
• Crown Castle has announced a quarterly dividend of $1.0625 per share, resulting in an annualized dividend yield of 4.4% for investors.
• Analysts maintain a positive outlook for Crown Castle, with three ratings as Strong Buy, ten as Buy, and an average price target of $115.82.

GC Wealth Management RIA LLC increased its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 57.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,657 shares of the real estate investment trust's stock after buying an additional 7,151 shares during the quarter. GC Wealth Management RIA LLC's holdings in Crown Castle were worth $2,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock worth $7,175,256,000 after purchasing an additional 6,341,150 shares during the period. Nuveen LLC acquired a new stake in Crown Castle during the 1st quarter worth approximately $305,876,000. Deutsche Bank AG increased its position in Crown Castle by 60.9% during the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust's stock worth $570,443,000 after purchasing an additional 2,072,198 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Crown Castle by 144.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust's stock valued at $357,834,000 after buying an additional 2,028,718 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in Crown Castle during the first quarter valued at approximately $149,661,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. JMP Securities reissued a "market outperform" rating and issued a $125.00 price objective on shares of Crown Castle in a research report on Thursday, July 24th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $124.00 price target (up from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. Wolfe Research raised Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 price objective on the stock in a research report on Monday, September 22nd. Barclays boosted their price objective on Crown Castle from $119.00 to $120.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. Finally, KeyCorp lowered their target price on Crown Castle from $125.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, September 17th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $115.82.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $96.24 on Tuesday. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $119.56. The stock's 50-day simple moving average is $100.61 and its 200-day simple moving average is $101.33. The firm has a market cap of $41.91 billion, a price-to-earnings ratio of -9.02, a PEG ratio of 0.72 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm earned $1.62 EPS. Crown Castle's quarterly 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, research analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $1.0625 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.4%. 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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