Crown Castle Inc. $CCI Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Crown Castle Inc. by 4.7% during the second quarter, acquiring 2,778 additional shares, bringing their total holdings to over $6.3 million.
• Crown Castle reported $1.02 earnings per share for the last quarter, exceeding the consensus estimate by $0.02, but revenue saw a 4.2% decline from the previous year.
• The company declared a quarterly dividend of $1.0625 per share, yielding 4.4%, with a payout ratio currently at -39.83%.

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 4.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,411 shares of the real estate investment trust's stock after purchasing an additional 2,778 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Crown Castle were worth $6,309,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC bought a new position in shares of Crown Castle during the first quarter worth about $26,000. Centerpoint Advisors LLC acquired a new position in Crown Castle during the 1st quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new position in Crown Castle in the 1st quarter worth about $26,000. Stone House Investment Management LLC acquired a new stake in shares of Crown Castle in the first quarter valued at approximately $27,000. Finally, Rise Advisors LLC bought a new stake in shares of Crown Castle during the first quarter valued at approximately $28,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CCI has been the subject of a number of recent analyst reports. KeyCorp decreased their price objective on Crown Castle from $125.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, September 17th. Wolfe Research raised Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 price target for the company in a research note on Monday, September 22nd. BMO Capital Markets upgraded shares of Crown Castle from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $115.00 to $120.00 in a research note on Tuesday, August 19th. Barclays upped their price objective on shares of Crown Castle from $119.00 to $120.00 and gave the stock an "overweight" rating in a report on Monday, September 15th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Crown Castle in a research note on Saturday, September 27th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $115.76.

Crown Castle Stock Performance

Crown Castle stock opened at $95.57 on Monday. The firm has a market cap of $41.62 billion, a price-to-earnings ratio of -8.96, a price-to-earnings-growth ratio of 0.73 and a beta of 0.95. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $115.89. The firm's 50 day moving average price is $99.36 and its two-hundred day moving average price is $101.09.

Crown Castle (NYSE:CCI - Get Free Report) last released 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. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The company's revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company posted $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, equities analysts predict that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, September 15th. Crown Castle's payout ratio is presently -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.

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