Crown Castle Inc. $CCI Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Crown Castle Inc. by 60.1%, owning 330,038 shares worth approximately $34.39 million at the end of the first quarter.
• Crown Castle reported $1.02 earnings per share for the last quarter, which surpassed the consensus estimate of $1.00, despite a 4.2% year-over-year revenue decline.
• The company announced a quarterly dividend of $1.0625, reflecting an annualized payout of $4.25 and a dividend yield of 4.4%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 60.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 330,038 shares of the real estate investment trust's stock after buying an additional 123,851 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.08% of Crown Castle worth $34,390,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC grew its holdings in Crown Castle by 2.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,135 shares of the real estate investment trust's stock worth $744,000 after acquiring an additional 204 shares in the last quarter. Concentric Capital Strategies LP purchased a new position in shares of Crown Castle in the 1st quarter valued at approximately $892,000. Alliancebernstein L.P. raised its position in shares of Crown Castle by 6.1% in the 1st quarter. Alliancebernstein L.P. now owns 691,172 shares of the real estate investment trust's stock valued at $72,041,000 after purchasing an additional 39,604 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Crown Castle by 87.2% in the 1st quarter. AQR Capital Management LLC now owns 230,048 shares of the real estate investment trust's stock valued at $23,978,000 after purchasing an additional 107,171 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Crown Castle by 16.4% in the 1st quarter. Advisors Asset Management Inc. now owns 175,592 shares of the real estate investment trust's stock valued at $18,302,000 after purchasing an additional 24,729 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

Crown Castle Trading Down 0.1%

CCI traded down $0.06 on Friday, hitting $95.53. 717,266 shares of the company's stock were exchanged, compared to its average volume of 3,297,401. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The firm has a 50-day moving average price of $102.82 and a 200-day moving average price of $101.37. The stock has a market cap of $41.60 billion, a price-to-earnings ratio of -8.95, a P/E/G ratio of 0.71 and a beta of 0.92.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm earned $1.62 EPS. The company's quarterly revenue was down 4.2% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, equities analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.4%. Crown Castle's dividend payout ratio (DPR) is presently -39.83%.

Analyst Ratings Changes

CCI has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. BMO Capital Markets raised shares of Crown Castle from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $115.00 to $120.00 in a research report on Tuesday, August 19th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $124.00 price objective (up from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. JMP Securities reissued a "market outperform" rating and set a $125.00 price target on shares of Crown Castle in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada raised their price target on shares of Crown Castle from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Crown Castle currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.41.

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.