Jump Financial LLC Has $762,000 Stake in Crown Castle Inc. $CCI

Key Points

• Jump Financial LLC significantly reduced its stake in Crown Castle Inc. by 79.3% during the first quarter, selling over 28,000 shares and retaining about 7,310 shares valued at approximately $762,000.
• Crown Castle reported $1.02 EPS for its last quarter, exceeding expectations, but also experienced a 4.2% decline in revenue compared to the prior year, with a negative net margin of 85.54%.
• The company declared a quarterly dividend of $1.0625 per share, reflecting an annual yield of 4.3%, with a payout ratio of -39.83%.

Jump Financial LLC lowered its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 79.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,310 shares of the real estate investment trust's stock after selling 28,027 shares during the quarter. Jump Financial LLC's holdings in Crown Castle were worth $762,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CCI. CHICAGO TRUST Co NA increased its stake in Crown Castle by 3.0% in the 1st quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock valued at $368,000 after buying an additional 104 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of Crown Castle by 18.9% during the 1st quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust's stock worth $70,000 after buying an additional 107 shares during the last quarter. Abel Hall LLC grew its holdings in shares of Crown Castle by 1.8% in the 1st quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock valued at $666,000 after acquiring an additional 115 shares in the last quarter. Beacon Capital Management LLC increased its position in shares of Crown Castle by 36.6% in the first quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock valued at $47,000 after acquiring an additional 120 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Crown Castle by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust's stock worth $3,894,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and set a $124.00 price target (up from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. BMO Capital Markets upgraded shares of Crown Castle from a "market perform" rating to an "outperform" rating and raised their target price for the company from $115.00 to $120.00 in a research note on Tuesday, August 19th. JMP Securities reiterated a "market outperform" rating and set a $125.00 price target on shares of Crown Castle in a report on Thursday, July 24th. Wells Fargo & Company upgraded Crown Castle from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $105.00 to $125.00 in a research note on Thursday, July 24th. Finally, KeyCorp raised their price objective on Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $116.41.

Crown Castle Trading Down 1.8%

NYSE CCI traded down $1.76 on Thursday, hitting $95.31. 1,981,530 shares of the company's stock were exchanged, compared to its average volume of 3,232,979. The stock has a 50-day moving average of $103.71 and a 200-day moving average of $101.18. The stock has a market cap of $41.50 billion, a price-to-earnings ratio of -8.92, a P/E/G ratio of 0.75 and a beta of 0.92. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.02. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

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 issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Monday, September 15th. Crown Castle's dividend payout ratio is presently -39.83%.

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.