Crown Castle Inc. $CCI Shares Bought by Chicago Capital LLC

Key Points

• Chicago Capital LLC increased its stake in Crown Castle Inc. by 50.1% during Q2, owning 11,620 shares valued at approximately $1.19 million.
• Wall Street analysts are optimistic, with multiple firms raising their target prices for Crown Castle's stock, including Wells Fargo moving it from $105 to $125.
• Crown Castle recently declared a quarterly dividend of $1.0625 per share, resulting in an annualized yield of 4.4% despite a negative earnings performance.

Chicago Capital LLC increased its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 50.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,620 shares of the real estate investment trust's stock after buying an additional 3,878 shares during the period. Chicago Capital LLC's holdings in Crown Castle were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Capital Investment Advisors LLC boosted its stake in shares of Crown Castle by 7.6% in the second quarter. Capital Investment Advisors LLC now owns 112,665 shares of the real estate investment trust's stock worth $11,574,000 after acquiring an additional 7,945 shares during the last quarter. HB Wealth Management LLC raised its position in shares of Crown Castle by 11.5% in the second quarter. HB Wealth Management LLC now owns 14,865 shares of the real estate investment trust's stock valued at $1,527,000 after buying an additional 1,533 shares during the last quarter. Taylor Frigon Capital Management LLC raised its position in shares of Crown Castle by 58.1% in the second quarter. Taylor Frigon Capital Management LLC now owns 22,985 shares of the real estate investment trust's stock valued at $2,361,000 after buying an additional 8,446 shares during the last quarter. Moss Adams Wealth Advisors LLC purchased a new position in shares of Crown Castle in the second quarter worth about $236,000. Finally, GC Wealth Management RIA LLC boosted its position in Crown Castle by 57.2% during the second quarter. GC Wealth Management RIA LLC now owns 19,657 shares of the real estate investment trust's stock worth $2,019,000 after acquiring an additional 7,151 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of research reports. Wells Fargo & Company raised shares of Crown Castle from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $105.00 to $125.00 in a research note on Thursday, July 24th. Royal Bank Of Canada upped their target price on 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. lifted their price target on Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Wall Street Zen raised shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, BMO Capital Markets upgraded shares of Crown Castle from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $115.00 to $120.00 in a research report on Tuesday, August 19th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Crown Castle has an average rating of "Moderate Buy" and a consensus target price of $115.82.

Crown Castle Stock Performance

Crown Castle stock opened at $96.41 on Wednesday. The company's 50 day simple moving average is $100.33 and its 200-day simple moving average is $101.30. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $119.56. The company has a market capitalization of $41.98 billion, a price-to-earnings ratio of -9.04, a price-to-earnings-growth ratio of 0.73 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 analysts' consensus estimates of $1.00 by $0.02. The firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The firm's quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Equities analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

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

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