Crown Castle Inc. $CCI Stock Holdings Increased by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Crown Castle Inc. by 17.4% during the first quarter, acquiring an additional 21,659 shares, bringing its total holdings to 146,044 shares worth approximately $15.2 million.
• Crown Castle recently announced a quarterly dividend of $1.0625 per share, resulting in an annualized dividend of $4.25 and a yield of 4.5% as of the ex-dividend date.
• Analysts have generally upgraded Crown Castle's stock, with the average target price rising to $116.47 and a consensus rating of "Moderate Buy" reflecting renewed confidence in the company's performance.

Voya Investment Management LLC boosted its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 17.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 146,044 shares of the real estate investment trust's stock after purchasing an additional 21,659 shares during the quarter. Voya Investment Management LLC's holdings in Crown Castle were worth $15,222,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in Crown Castle during the first quarter worth $26,000. Iron Horse Wealth Management LLC purchased a new stake in shares of Crown Castle in the first quarter valued at $26,000. Centerpoint Advisors LLC purchased a new stake in shares of Crown Castle in the first quarter valued at $26,000. Stone House Investment Management LLC purchased a new stake in shares of Crown Castle in the first quarter valued at $27,000. Finally, Rise Advisors LLC purchased a new stake in shares of Crown Castle in the first quarter valued at $28,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

Shares of CCI stock traded up $0.64 during trading hours on Friday, reaching $93.60. The company had a trading volume of 5,261,530 shares, compared to its average volume of 3,761,189. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $119.56. The company has a market capitalization of $40.76 billion, a P/E ratio of -8.77, a price-to-earnings-growth ratio of 0.71 and a beta of 0.92. The stock's fifty day simple moving average is $101.75 and its 200 day simple moving average is $101.38.

Crown Castle (NYSE:CCI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, equities analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle's dividend payout ratio (DPR) is currently -39.83%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CCI shares. Wall Street Zen upgraded Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. 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 research note on Thursday, August 7th. BMO Capital Markets upgraded Crown Castle from a "market perform" rating to an "outperform" rating and upped their target price for the company from $115.00 to $120.00 in a research note on Tuesday, August 19th. Scotiabank upped their target price on Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Finally, Wells Fargo & Company upgraded Crown Castle from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $105.00 to $125.00 in a research note on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.18.

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.