Crown Castle Inc. $CCI Shares Bought by Ethic Inc.

Key Points

• Ethic Inc. increased its holdings in Crown Castle Inc. by 31.8%, acquiring an additional 16,076 shares, bringing its total to 66,690 shares worth $6.71 million.
• Crown Castle recently reported $1.12 earnings per share for the quarter, surpassing analyst expectations of $1.04, despite a negative net margin of 85.54%.
• The firm declared a quarterly dividend of $1.0625 per share, with an annualized yield of 4.4%, marking a dividend payout ratio of -39.83%.

Ethic Inc. increased its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 31.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 66,690 shares of the real estate investment trust's stock after acquiring an additional 16,076 shares during the period. Ethic Inc.'s holdings in Crown Castle were worth $6,712,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CCI. Vanguard Group Inc. grew its position in shares of Crown Castle by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock valued at $7,175,256,000 after acquiring an additional 6,341,150 shares during the period. Nuveen LLC acquired a new stake in shares of Crown Castle during the 1st quarter valued at about $305,876,000. Deutsche Bank AG grew its position in shares of 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 valued at $570,443,000 after acquiring an additional 2,072,198 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Crown Castle by 144.5% during the 1st 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 acquiring an additional 2,028,718 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Crown Castle during the 1st quarter valued at about $149,661,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

CCI opened at $97.66 on Thursday. The company's 50 day simple moving average is $97.15 and its two-hundred day simple moving average is $100.55. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.76. The firm has a market capitalization of $42.53 billion, a price-to-earnings ratio of -9.15, a price-to-earnings-growth ratio of 0.75 and a beta of 0.95.

Crown Castle (NYSE:CCI - Get Free Report) last released its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.08. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company posted $1.84 EPS. The business's revenue was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Monday, September 15th. Crown Castle's dividend payout ratio (DPR) is -39.83%.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of analyst reports. UBS Group raised their target price on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Royal Bank Of Canada set a $112.00 price objective on Crown Castle and gave the stock an "outperform" rating in a report on Wednesday, October 1st. Citigroup lowered their price objective on Crown Castle from $124.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, October 16th. Weiss Ratings reiterated a "sell (d)" rating on shares of Crown Castle in a report on Wednesday, October 8th. Finally, Wells Fargo & Company lowered their price objective on Crown Castle from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $113.44.

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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